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HDG prices move up slightly in EU, mill targets not achieved - 23 February 2012

The price for hot-dip galvanised in Europe has moved up by €20/tonne in the last two weeks, following the trend seen in other coils products, Steel Business Briefing learns from market participants. Mills have announced their target price for Q2 rolling, but it hasn’t been reached yet.

Market sources reported the latest transaction prices in Europe at €600-630/t ($795-834/t) ex-works base price. One commercial manager at a major mill in southern Europe confirms that €600/t base price was achieved at the beginning of the current month, and new transactions are expected to be slightly higher. German-based and French-based distributors quoted prices this week at €630/t ex-works base.

Meanwhile, mills are targeting new increases for Q2, but transaction prices at these levels have not been reached. A senior manager at a Northern European mill quoted offers for Q2 rolling at €660-670/t ex-works base price, while sources in South European market quoted a target level from suppliers at €650-660/t ex-works base price.

“This specific market suffers more than HRC and CRC. We are noticing higher increases in these other products, with CRC at as much as €30/t more than HDG,” a source comments.

During January and February some exports have been reported from European mills to North America, while imports remain only competitive for material thinner than 0.7mm.

“We tend to avoid buying thin material from EU mills as the extras to pay are high. Indian and Chinese HDG 0.3-0.7mm thicknesses are competitive,” the German source comments. A trader quoted Chinese 0.75mm Z275 at €638-640/t cfr Antwerp.


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