Light Demand in European Board Market, Few Inquiries on Import Resources

This week, the prices of cold coils and A1008 Grade 33(230) steel hot-dip galvanizing in Europe remained basically stable. In terms of cold coils, the European market is dominated by imported products with lower prices. Compared with the Chinese market, European steel mill manufacturers have no competitive advantage. Only when someone needs a shorter delivery time and a specific grade (or) size, European steel mills will have a competitive opportunity. At present, European steel mills are reducing the production of cold coils, and currently focus on hot-dip galvanizing products with higher added value. It is reported that suppliers from Japan, Taiwan, China and South Korea pay 670-700 euros/ton CFR (720-752 U.S. dollars) The price of the rare CRC/s corn from Nordic steel mills is approximately 740-750 euros per ton (equivalent to 730-740 euros per ton factory delivery), with a delivery time of August. However, the buyer's estimate of the tradable price is close to 720-730 euros per ton CFR, and the actual transaction may be reduced by about 20 euros per ton CFR, but the market's confidence in the price is not sufficient. Currently, the domestic cold coil market price in Europe A1008 Grade 33(230) steel is around 740-750 euros per ton (actual delivery per ton CFR). 730-740 euros/ton)

In terms of the hot-dip galvanizing market, transactions are not very smooth, mainly due to weak demand in the end industry. In the Nordic region, the price of hot-dip galvanizing delivered in August is 750-770 euros/ton EXW, while the price of sheet coils originating from Italy shipped to Germany is 750 euros/ton EXW. The actual transaction price may be reduced by 15-20 euros/ton. The quantity of hot-dip galvanizing exported from overseas to Europe is very small, and there are few active suppliers in the market. It is reported that the target price for 0.5mm hot-dip galvanizing (Z140 coating) from Vietnamese A1008 Grade 33(230) steel suppliers is 820-830 dollars/ton, while the price for 1mm hot-dip galvanizing (Z275 coating) from Indian factories is 755-770 euros/ton.