It is reported that European coil prices and the Turkish domestic HR coil price saw a drop since the week ended February 6th 2009. Meanwhile, the US coil prices have stabilized. There was also a rise in the export levels for Chinese HRC and CRC are increasing.

In northern Europe, the HRC ex works reference price slipped to EUR 473 per tonne, while the CRC price was at EUR 548 per tonne. Also, the HRC and HDG prices of in southern Europe witnessed a steep decline, with HRC slipping to EUR 405 per tonne.

The CRC price FOB Midwest mill in US market moved up to USD 634 per short tonne. Similar is the case of HDG, which was up by USD 11 per short tonne.

The scene was bad in the domestic Turkish HRC market also, as the reference prices reached USD 488 per tonne ex works, down by USD 12 per tonne. However, the CRC price remained unchanged.

The Chinese coil exports prices to Europe and North America have increased. HRC export price, stowed at China port, moved up to USD 552 per tonne FOB.