European steel prices CRC, HRC HRC stable amid seasonally low demand
Underlying steel prices fell in Europe during the week of Wednesday, July 2, due to subdued demand and recent market developments, trading sources told Fastmarkets.
Market participants explain the lack of demand by the low interest among buyers during the summer lull.
Northern Europe
Market sources estimated real prices for domestic cold-rolled coils in Northern Europe at 650-660 euros ($764-776) per ton of Ex-work, compared with 690 euros per ton on a free-of-charge basis in mid-June.
There were also reports of €660 per ton of Ex-work this week.
Weekly price analysis
Fastmarkets per cold-rolled roll, domestic, Northern European pickup, €650-660 per ton on July 2, down from €660-670 per ton the previous week.
Meanwhile, import prices for CRC remained stable this week.
Weekly price analysis
Fastmarkets per cold-rolled roll, imports, CFR shipments of the main port of Northern Europe, Euro 630-640 per ton on Wednesday, unchanged over the week.
Domestic prices for hot dipped galvanized coil also dropped this week, with industry sources estimating a workable market in Northern Europe at €670-680 per ton of Ex-work, compared with €680-690 per ton in the previous estimate.
There were also rumblings of €670-680 per ton of Ex-work this week.
As a result, Fastmarkets’ weekly price estimates for hot-dipped galvanized coil steel, domestic, Northern European pickup, EURO 670-680 per ton on Wednesday, narrowed down from €670-690 per ton the previous week.
Galvanized import prices also remained stable this week.
Weekly price analysis
Fastmarkets for hot-dipped galvanized coil steel, imports, CFR shipments of the main port of Northern Europe, Euro 690-700 per ton on Wednesday, unchanged for the week.
Southern Europe
Domestic CPI prices in Southern Europe remained stable in the week to Wednesday, according to market sources.
Market sources estimate real prices for domestic CPI at €660-680 per ton of Ex-work as of Wednesday, compared with €670-700 per ton of Ex-work last week.
Weekly price analysis
Fastmarkets for a roll of cold-rolled, home-made, EXW conditions in southern Europe, Euro 660-680 per ton on Wednesday, unchanged over the week.
CPC import prices remained stable this week.
Weekly price analysis
Fastmarkets per cold-rolled roll, imports, CFR shipments of the main port of Southern Europe, Euro 590-630 per ton on Wednesday, unchanged over the week.
At the same time, domestic hot-dip galvanized prices also remained stable, with trade sources estimating a feasible price of €680-690 per ton on a factory-free basis, the same as last week.
Hence, the weekly Fastmarkets price estimate for hot-dipped galvanized steel coil, home, conditions