As European steel mills are widely dependent on Russian natural gas and upstream supply from the CIS region, the conflict between Russia and Ukraine leads to the rise in production and energy costs of European steel mills, and the price of hot galvanized sheet in Europe rises sharply.On March 2, the Nordic hot galvanized sheet was quoted at 1150-1160 euros/ton EXW Ruhr, up 20-30 euros/ton week on month; Southern Europe quoted at eur 1140-1150 / mt, up EUR 30-40 / mt week on month.
With inventory levels currently high in Northern Europe, buyers are holding back for the time being in the face of high prices. Relatively speaking, southern European buyers are worried about tight steel supply, market prices have greater room for upside.
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