In Europe, cold rolled coil (CRC) offers have been observed to be less in demand as HDG production, which has a higher added value, is preferred. CRC offers from mills in Southern Europe were reportedly hovering around €840 per ton (€825-830 EXW).
Besides buyers expecting prices between €800-€810 EXW per tonne, they also anticipate CRC prices in the region to be reduced to this level by March. CRC suppliers overseas were also reported to have offered lower prices following the Lunar New Year holidays. The sources told SteelRadar that the CRC price offered from South Korea for April delivery dropped to €720 CFR per tonne, down from €740-750 CFR per tonne at the end of January.
Competitive offers from Japan for CRC for end-April delivery were in the range of €730-735 per tonne, sources pointed out, underlining that competitive offers from overseas suppliers pushed European prices further down.
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