Prices for European CRC, HDG steel are falling due to seasonal recession, import competition
Underlying apartment steel prices fell in Europe during the week of Wednesday, June 25, with the current seasonal slowdown having a major impact on demand levels in the region, industry sources told Fastmarkets.
"Prices are under pressure due to the summer," a distributor source said, who added that market participants might have to wait until September for a price increase to be seen.
The producer's source also noted cheaper imports from Asia as causing "significant disruption" to the European market, particularly shipments from Indonesia.
Northern Europe
Suppliers were heard offering cold-rolled coils at €660-670 ($771-783) per ton of Ex-work during the study period, compared to €685-690 per ton of Ex-work in the previous week.
This week, offers were made at €670 per ton of Ex-work.
Weekly price analysis
Fastmarkets per cold-rolled roll, domestic, Northern European pickup, Euro 660-670 per ton on Wednesday, down from €685-690 last week per ton.
Import prices for CPR in Northern Europe also fell in the week to Wednesday, with offers from Asia around €630-640 per tonne CFR, down from €640 per tonne CFR a week ago.
Weekly price analysis
Fastmarkets per cold-rolled roll, import, CFR shipments to the main port of Northern Europe, Euro 630-640 per ton on Wednesday, down from €640-660 per ton a week earlier.
At the same time, domestic prices for hot dipped galvanized coil also dropped this week, with offers heard around €670-680 per ton of Ex-work, compared to €690-700 per ton of Ex-work the previous week.
Weekly price analysis
Fastmarkets for hot-dipped galvanized coil steel, domestic, Northern Europe pickup, Euro 670-690 per ton on June 25, down from €690-700 per ton the previous week.
Import prices for galvanized steel continued this week, with suppliers heard offering €690-700 per ton CFR, up from €720 per ton CFR in May.
As a result, Fastmarkets’ weekly price estimates for hot-dipped galvanized coil steel, import, CFR shipments to the main port of Northern Europe, EURO 690-700 per ton on Wednesday, down from €700-740 per ton last week.
Southern Europe
Domestic CPR prices in Southern Europe also dropped over the week to Wednesday, according to market sources.
Suppliers have been heard offering €680 per tonne of Ex-work this week, compared to €680-680 per tonne on ex-factory terms at the beginning of the month.
Meanwhile, proposals were heard for €660-670 per ton of Ex-work.
Consequently, Fastmarkets' weekly estimate of the price per roll of cold-rolled, home-made, EXW conditions in southern Europe is 660-680 euros per ton this week, down from 680-700 euros per ton the previous week.
Import prices for CPR were unchanged during the week.
Weekly price analysis
Fastmarkets per cold-rolled roll, import,