Hot dipped galvanized (HDG) coil prices in Europe stood still at the end of the week on low demand for steel, market sources told Metal Bulletin on Friday May 4.
A public holiday on Tuesday in most European countries contributed to the slow business week, traders had said.
One trader told Metal Bulletin that ArcelorMittal Poland had brought its HDG prices down slightly, but the price change was not yet the reduction traders had been expecting.
In addition, national holidays falling on both Monday and Tuesday in China meant that producers there did not come back to the market until Wednesday.
“Chinese producers came back with no price changes and so imports into Europe have remained stable,” a second trader commented.
On Wednesday May 2, Metal Bulletin reported domestic prices for HDG as unchanged at €620-640 ($815-841) per tonne for May and June delivery, with imports listed at €640-660 per tonne cfr for delivery in June and July.