European CRC and HDG steel prices continue to decline due to weak demand
Trading sources told Fastmarkets that prices for flat rolled products in Europe continued to fall during the week ending Wednesday, June 18, amid declining demand and a seasonal slowdown that continues to affect the market.
Northern Europe
Industry sources estimated that the acceptable market price for a cold-rolled roll was 690 euros ($792) per ton from the factory in the week to Wednesday, down 10 euros from 700 euros per ton from the factory the previous week.
. But there were also offers at a price of 685 euros per ton from the factory
As a result, Fastmarkets' weekly price estimate for cold-rolled steel for domestic consumption in Northern Europe was 685-690 euros per ton on Wednesday, down from 700-720 euros per ton in the previous week.
Market sources cited "weak demand" and "market uncertainty" as the main factor behind the recent price decline as factories shift their focus from CRC to other types of metal products.
"In the current market conditions, factories are shifting their attention from CRC to cold-rolled products, and some buyers have reported a lack of recent offers for cold-rolled products," the buyer said, according to a source at Fastmarkets. "Factories are mostly abandoning CRC, refocusing their efforts on the production of galvanized products."
Prices for cold-rolled coils imported to Northern Europe also dropped in the week to Wednesday. Market sources reported offers from Asia of €640 per ton CFR, up from €650-655 per ton CFR in early June.
Weekly price analysis
Fastmarkets per cold-rolled roll, imports, CFR shipments of the main port of Northern Europe, Euro 640-660 per ton on Wednesday, expanding downward from €650-660 per ton last week.
Meanwhile, the market for domestic hot-dipped galvanized coil also showed a significant drop during the evaluation period.
Trade sources estimated the workable galvanizing market at €700 per ton ex-works this week, compared with €700-710 per ton Ex-works in the previous period.
But sources also reported offers of galvanized at €690 per ton of Ex-work.
Thus, Fastmarkets' weekly price estimate for hot-dipped galvanized coil steel, domestic, Northern European pickup, was €690-700 per ton on Wednesday, down from €700-710 per ton the previous week.
Import prices for galvanized steel in Northern Europe showed no change during the evaluation period.
Weekly price analysis
Fastmarkets for hot-dipped galvanized coil steel, import, CFR in Northern Europe, stopped at €700-740 per ton on Wednesday.
Southern Europe
Import prices for CPR in Southern Europe also fell in the week to Wednesday, according to market sources.
Reported