EU HRC market stable; producers lack unified pricing approach

Domestic prices for hot-rolled coil in Europe have been stable on Aug. 7 because of a seasonal market slowdown.

Steelmakers, in the meantime, lacked a unified approach to pricing as some continued to give discounts to sell volumes and others have made unsuccessful attempts to raise offers to Eur680-700/mt delivered, sources said.

“Customers asking [for a] lower price in EU,” a distributor said. “Generally, in prices, there is a rollover situation—no real movement and no real consumption.”

“It is an interesting market at the moment as some mills are asking for higher prices, but I think it is most likely to stop the price decline,” a trader said.

Platts assessed domestic HRC prices in Northwest Europe at Eur640/mt ex-works Ruhr Aug. 7, unchanged.

Market participants estimated tradable values at Eur620-650/mt EXW Ruhr and at Eur650/mt delivered Germany.

A trader reported a deal at Eur580/mt EXW Ruhr, but it was excluded from the assessment as other market participants did not confirm the transaction.

Platts assessed domestic HRC prices in South Europe also unchanged at Eur635/mt EXW Italy Aug. 7.

Author Maria Tanatar