Prices for imported flat steel in Europe unchanged on low buying interest

Prices for imported flat steel in Europe have remained stable over the past week, on a lack of buying interest, sources told Steel First on Thursday November 13.

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Buyers in Northern Europe abstained from purchases after doing some deals last week, while in Southern Europe demand has remained seasonally weak.

The euro-dollar exchange rate and long delivery times have also stifled demand for imports, sources told Steel First.

Steel First’s weekly price assessment for imported hot rolled coil (HRC) in Southern Europe stayed at €410-425 ($511-530) per tonne cfr on Thursday , while in Northern Europe the assessment remained at €400-410 ($498-511) per tonne cfr.

“There is no big interest in buying imported HRC as, [while the prices from] Chinese mills are acceptable, HRC from China contains boron, which makes it almost useless in Europe,” a source said.

India’s JSW Steel has been offering HRC to Northern Europe at €425 ($530) cfr Antwerp (Beligium), but the price is considered to be “too high”, according to a source.

Steel First’s weekly price assessment for imported CRC in Southern Europe was steady at €460-470 ($573-586) per tonne cfr. The assessment for the product in Northern Europe was unchanged from last week at €455-460 ($567-573) per tonne cfr.

“Chinese suppliers have been offering CRC [to Northern Europe] at the price of last week deals,” a source said.

Steel First’s weekly price assessments for imported 1mm hot dipped galvanized coil (HDG) with Z120 coating were €505-510 ($629-636) per tonne cfr in Southern Europe, and €520-530 ($648-660) per tonne cfr in Northern Europe. Both prices unchanged week-on-week.