The latest reference prices released by The Steel Index show that coil prices in the US have seen small drops since last week, with all three reference prices at 12-month lows. However, coil prices in northern and southern Europe are generally unchanged since last week. Turkish domestic HR coil prices are steady, while export coil prices from China are unchanged since last week.
The US HR coil reference price FOB Midwest mill is $9/short ton lower at $526/s.ton ($580/tonne) and the galvanised coil (HDG) reference price also fell by $5/s.ton. The average delivery lead-times for HR and HDG coils in the US are longer than last week.
The HR coil ex-works reference price in northern Europe fell slightly to €497/tonne ($696/t), while the CR coil price is almost stable at €600/t ($840/t). All coil delivery lead-times are shorter than last week, with average HDG coil delivery just over 5 weeks.
In southern Europe, HR and CR coil ex-works reference prices are unchanged while the HDG coil price eased down to €532/t ($745/t). Average delivery times for uncoated coils are slightly longer, with HR coils lead-times at 6.3 weeks.
The domestic Turkish HR coil ex-works reference price is unchanged at $450/t, while the CR coil reference price is down to $542/t. For Chinese coil exports to Europe and North America, the HR coil export price, FOB stowed China port, remains at $475/t. CR coil export average delivery times are longer at 10.3 weeks.