In Northwest Europe, local cold rolled coil prices have increased by EUR 15/mt daily and EUR 35/mt weekly. The valuation is based on the reported trading value of EUR 930-950/mt ex-works Ruhr. Local hot-dip galvanized coil prices in the region also increased by EUR 20/mt week on week to EUR 950/mt ex-Ruhr on 8 March. They said that European mills have placed offers for coils for delivery at the end of May-July and they feel pressure to reduce their sales volumes. Technical problems at the cold rolling mill at Tata Steel in the Netherlands caused the mill to resort to force majeure and contributed to the uptrend in the market.
European buyers were unable to replace local supply with imports due to longer supply times. On March 8, the market prices for cold rolled coils in Southern Europe were evaluated as 900 EUR/mt Italian factory output, with a daily increase of 10 Eur/mt. It is reported that the offers are at the level of 950 Eur/mt Italian delivery.
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