European CRC and HDG prices were helped by changing conditions for importers
European prices for flat rolled products rose a week before Wednesday, February 18, amid increased import pressure due to new regulations, although there is still no increase in supply in the market, Fastmarkets reported.
According to sources, there has been some improvement in the domestic market since the introduction of the EU Carbon Emissions Regulation Mechanism (CBAM) earlier this year, which has affected buyers' appetite for imported goods.
"There is little interest in imports because they have become too risky," said a source at the distribution company, adding that "a lot of attention" is being paid to domestic production.
Due to the limited supply of imported materials due to changes in legislation and growing trade risks, domestic manufacturers are in a better position to seek more profitable offers, according to Fastmarkets.
Northern Europe
In Northern Europe, factories were rumored to be offering the April price with delivery of about 795-830 euros per ton from the factory. However, these levels have not yet been reflected in the transactions.
According to estimates, market selling prices ranged from 770-780 euros per tonne per plant, compared with 760-770 euros per tonne per plant during the previous assessment period.
Fastmarkets' weekly price estimate for cold-rolled steel for domestic consumption, exw in Northern Europe on Wednesday was 770-780 euros per tonne, up from 760-770 euros per tonne in the previous week.
According to a market source, the plants are striving to reach a level close to 800 euros per tonne of CRC, which, according to them, is "absolutely impossible" because buyers are in no hurry to make "important decisions".
Meanwhile, CRC import prices for Northern Europe remained stable for CFR, while DDP prices rose slightly.
Fastmarkets' weekly price estimate for cold-rolled steel, imports, CFR's main port in Northern Europe, was stable at 630-660 euros per tonne on Wednesday, unchanged week-to-week.
Fastmarkets' weekly price estimate for cold-rolled steel, import, DDP in Northern Europe on Wednesday was 730-770 euros per ton from the factory, up from 730-760 euros per ton in the previous week.
The lower bound of the estimate was pegged to offers from Brazil at 730 euros per tonne per day, while the upper bound reflects offers from China and South Korea, which are expected to be 760-770 euros per tonne per day.
No new trading operations were reported during the reporting period.
On the other hand, domestic HDG roll prices in Northern Europe have also increased.
Fastmarkets' weekly price estimate for a hot-dip galvanized steel roll for domestic consumption, exw in Northern Europe on Wednesday was