The European cold-rolled coil (CRC) market is being dominated by much cheaper imports, forcing domestic mills to trim CRC output in favor of producing more hot-dip galvanized (HDG) coil. Around 90% of CRC supply now comes from imports, with only one supplier active in Italy, offering CRC around €725-730 per tonne ex-works for July-August delivery. Buyer estimates of tradeable CRC values are around €710-720 per tonne ex-works.
European mills cannot match import prices due to the high energy costs of CRC production. Import offers from India for August shipment are at €695 per tonne CFR Southern Europe, while Japanese and South Korean offers are €660-675 per tonne CFR for July-August shipment. A deal for South Korean CRC was reported at €660 per tonne CFR.
In contrast, the HDG market is less impacted by imports as overseas mills cannot supply the full range of grades and dimensions required by European buyers. Domestic HDG offers are €750-770 per tonne delivered (€740-760 ex-works), with buyers estimating achievable prices at €730-740 ex-works. Vietnamese HDG offers for August shipment are around $830 per tonne CFR Southern Europe.
