Domestic prices for Europe CRC were fairly stable in the week to Wednesday September 30, with long lead times pushing buyers into backing away from new deals, sources have told Fastmarkets.
*** Cold-rolled coil in Northern Europe
Fastmarkets’ weekly price assessment for steel CRC, domestic, exw Northern Europe, was €۵۶۰-۵۹۰ ($۶۵۷-۶۹۲) per tonne on September 30, compared with €۵۶۰-۵۸۰ per tonne a week earlier.
The assessment reflected the latest deals and “workable” prices heard in the market.
The corresponding weekly price assessment for steel CRC, domestic, exw Southern Europe, was stable over the week at €۵۶۰-۵۷۰ per tonne on September 30, representing deals heard in the Italian market.
Northern European steelmakers have been offering CRC products from first quarter of 2021 rolling, and in the south of Europe lead times were also reported to be getting longer, supported by good demand from the automotive sector, market sources said.
With delivery times getting longer and buyers having already booked the volumes required for re-stocking earlier in September, they now preferred to hold back from making new deals because they were unsure that the positive trend would be sustained into next year.
Apart from improved demand, both from spot buyers and from car manufacturers, CRC prices have been supported by a positive trend in hot-rolled coil in Europe. HRC is used as the feedstock for CRC production.
*** hot-rolled coil in Northern Europe
Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at €۴۹۰٫۷۷ per tonne on October 1, down by just €۰٫۱۴ per tonne from €۴۹۰٫۹۱ per tonne on September 30. The index was, however, up by €۲٫۹۶ per tonne week on week and by €۳۷٫۲۹ per tonne month on month.
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