European coil prices static on little trading activity
European coil prices stood still this week at levels unchanged for more than two months on the back of poor steel demand and little trading activity.
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Domestic prices for hot rolled coil (HRC) remained at €550-560 ($720-733) per tonne rolled in April for May/June delivery.
Similarly, HRC imports have remained at €560-580 per tonne cfr for June/July delivery.
“I don’t see any changes this week,” one HRC trader told Metal Bulletin on Wednesday April 11.
“Nothing is happening,” another trader said. “Everyone is hoping that Q2 will get moving soon in terms of trades,” he added.
A Southern European trader noted a low domestic HRC price of €520-530 ex-works per tonne delivered in May and June.
“Mill domestic prices are always stable these days in the south,” he said.
The same trader also told Metal Bulletin that very few offers for HRC imports had been received this week, with one offer heard of at €530-540 per tonne cif Italian port.
European domestic and imported cold rolled coil (CRC) prices were unchanged this week at €635-660 per tonne for delivery in May and June, and €625-645 per tonne cfr for June/July delivery.
Southern European CRC domestic prices were listed at €600-610 per tonne ex-works, while the southern trader identified imports into Southern Europe at €600-610 cif Italian port.
Similarly, domestic prices for hot dipped galvanized (HDG) maintained last week’s level of €620-640 per tonne delivered in May and June, with imports listed at €640-660 per tonne cfr for delivery in June and July.
Southern European domestic HDG was recorded at €580-590 per tonne base ex-works. Imports were heard at €610-620 per tonne cif Italian port.
A fourth trader said the Chinese national holidays had resulted in a pause for major HDG imports into Europe.
“We expected China to come back into the market after the holiday and prices to perhaps shift, but the mills returned to the market with no changes,” the trader said.
“As far as European mills are concerned, they are trying to keep prices stable right now,” he added.