May shipment offers for cold-rolled coils (CRC) originating from South Korea and Taiwan to Southern Europe fell to €700 per ton CFR. During the assessment week, a deal was struck for Korean-origin CRC at €700 per ton CFR. Offers for CRC from Japan and India to Southern Europe were in the range of €700-720 per ton CFR.
The downward trend observed since early February also applies to Z100-120 coated 0.5 mm hot-dipped galvanized coils. During the assessment week, Vietnamese and Indian suppliers offered prices around €785-795 per ton CFR to Southern Europe.
Cheap imports from Asia remain one of the major factors driving down steel prices in Europe. European producers are forced to reduce production costs in order to compete with the lower prices. This situation poses challenges for the European steel sector.
It was noted that imports dominate the cold-rolled coil market and for European factories to compete with Asian rivals, the price difference per ton should be below €100.
In conclusion, steel prices in Europe continue to decline due to the impact of Asian imports. While this poses concerns for European steel producers, it presents a more advantageous situation for consumers.
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