Recently, the European hot rolled coil (HRC) and cold rolled coil (CRC) market remained quiet with surplus supply. Last week, both HRC and CRC price suffered a drop locally.

It’s known that the domestic HRC is quoted at €440~€480/ton and €440~€460/ton in Northern Europe and Southern Europe respectively. Meanwhile, imported resources are quoted at €460~€490/ton CFR and €445~€455/ton CFR in Northern Europe and Southern Europe respectively.

Meanwhile, the domestic CRC is quoted at €560~€580/ton and €520~€560/ton in Northern Europe and Southern Europe respectively, in comparison of the quotes of imported resources at €525~€545/ton CFR and €525~€535/ton CFR.

Traders said that the foreign suppliers have no choice but to cut the price further to secure the orders due to slack demand.