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Southern European HDG prices remain under pressure
The gap between Southern and Northern European hot dip galvanized quotations has become bigger in July. Prices in Southern Europe are under pressure due to lower demand, imminent summer stops and import competition, Kallanish hears from industry sources.
Italy and Spain are being offered HDG from China and India. Prices for Indian material are higher than for China-origin material but the range of import prices is $450-470/t cif Italy.
“Local material in Southern Europe plunged in July also because producers need to sell. It is as simple as that: flats prices and raw materials are falling everywhere and they need to get rid of material,” an international buyer comments.
At the moment, the base ex-mill price in Southern Europe for HDG is between €400-450/t ($442-497/t). Some transactions for both imported Indian material and European material have also shown the €475/t figure in July but producers now are giving bigger discounts especially for higher quantities and qualities, sources say. The forecast for August is of stability at the current low levels.
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Anonymous
Very good overview of the weekly steel market.
Anonymous