Day: 4 June 2026

Domestic hot-rolled coil prices in Northern Europe increased slightly on Wednesday June 3, supported by higher offers from suppliers, while Italian prices declined, weighed by slow trading activity and weak demand, sources told Fastmarkets.

In Northern Europe, two buyers reported an offer at €695 per tonne ex-works on June 3 and a third buyer indicated workable levels at €680 per tonne ex-works in Northwest Europe.

No significant trading activity was heard during the day. One buyer said the market was very quiet due to the gap between mill offers and the levels buyers were willing to pay. “Nobody is ready to compromise in the middle,” the source added.

The buyer said customers remained reluctant to accept higher offers from suppliers because they held sufficient stock or could buy from ports at lower prices, around €700 per tonne delivered (€685 per tonne ex-works), adding that “everybody is in wait-and-see mode.”

The buyer source said mills had initiated price increases of €50-80 per tonne for third-quarter material, targeting €740-780 per tonne ex-works, but no firm offers at these levels had been announced yet.

Meanwhile, a second buyer said steel demand, particularly from the automotive sector, could weaken due to geopolitical tensions in the Middle East and slowing global car sales.

Fastmarkets’ daily steel hot-rolled coil index domestic, exw Northern Europe was calculated at €690.00 ($802.89) per tonne on June 3, up by €2.50 per tonne from €687.50 per tonne on June 2.

The index was up by €3.50 per tonne week on week but down by €22.25 per tonne month on month.

In Central Europe, HRC offers varied within the range of €710-730 per tonne delivered (€695-715 per tonne ex-works), depending on the supplier. Workable levels were said to be closer to €705 per tonne delivered, or €690 per tonne ex-works, with market sources noting that mills were unwilling to go below this threshold.

As a result, Fastmarkets weekly price assessment for steel hot-rolled coil domestic, exw Central Europe was €690-705 per tonne on June 3, up from €685-695 per tonne on May 27.

In Italy, the domestic HRC market remained quiet following Tuesday’s Republic Day holiday. Sources reported limited trading activity, linking this to weak demand and uncertainty over country-specific allocations for EU steel import quotas.

“It’s important for large buyers to have the final import quotas and understand what can be booked for the same period from imports and at which prices. So, even more reasons to wait and not to book today,” a mill source said on Wednesday.

Two mill sources reported indications at €670-690 per tonne ex-works on June 3. One producer said they were offering HRC at €680-700 per tonne ex-works and noted that steel service centers were unlikely to pay above €660-670 per tonne delivered, or €645-655 per tonne ex-works.

The same source added that, given the current market conditions, “realistically, nothing higher than €660-670 per tonne ex-works is possible” for July-August bookings.

Fastmarkets’ daily steel hot-rolled coil index domestic, exw Italy was calculated at €672.75 per tonne on Wednesday, down by €4.75 per tonne from €677.50 per tonne on Tuesday June 2.

The index was up by €1.25 per tonne week on week but down by €17.50 per tonne month on month.[HC1]

Turkish HRC offers were reported around €600 per tonne CIF Italy, excluding anti-dumping duty, unchanged from June 2, but buying interest remained limited, a buyer source said on June 3, adding that “Turkish exporters had already secured significant sales into the EU, increasing the risk of exceeding import quotas.”

Meanwhile, HRC from Asia and Algeria was offered at €720-750 per tonne DDP Southern European ports.

Trading activity in the European import flat steel market remained subdued in early June because buyers were awaiting details on country-specific quota distribution in the new safeguard, which will come into force on July 1.

In such conditions, most buyers preferred to take a wait-and-see stance to minimize risks.

There was information circulating in the market about 40,000 tonnes of Indonesian hot-rolled coil sold to Spain in late May, but this could not be widely confirmed by the time of publication, nor could the price of the deal be confirmed.

Sources reported offers from the country varying within the range of €550-575 ($638-667) per tonne CFR in Southern Europe, with some indicating levels as low as €540 per tonne CFR.

Indian material was also heard offered within a wide range. Several sources said HRC from this origin was available at $550 per tonne FOB, with freight costs estimated at $80-90 per tonne to key European ports such as Antwerp or Marghera. This results in $630-640 per tonne CFR or €542-550 per tonne CFR.

Turkish offers were heard at €600 per tonne CFR, excluding anti-dumping duty.

As a result, Fastmarkets’ weekly price assessment for steel hot-rolled coil import, cfr main port Southern Europe was calculated at €550-600 per tonne on June 3, down from €590-605 per tonne on May 27.

Northern European import hot-rolled coil was extremely quiet during the reported week.

As a result, the corresponding Fastmarkets assessment was moved in line with Southern Europe.

Offers of Algerian HRC on a DDP basis were heard in Northern Europe within the range of €700-720 per tonne in late May. Customers considered these levels high, saying that Asian material from traders could still be purchased at €660-690 per tonne DDP.

Fastmarkets’ assessment for steel hot-rolled coil import, ddp Northern Europe was €660-680 per tonne on June 3, versus €640-690 per tonne on May 27.

In early June, DDP-basis offers of Algerian and Asian material were heard at €720-750 per tonne in Southern Europe, whereas customers were willing to pay no more than €680 per tonne DDP.

Fastmarkets thus put its assessment for steel hot-rolled coil import, ddp Southern Europe at €660-680 per tonne on June 3, versus €650-680 per tonne on May 27.