European hot-rolled coil prices remained largely stable on Dec. 13 as the European flat steel industry prepares for holiday production stops to take place, according to sources.
“More mills are preparing to shut production for one to two weeks longer than usual production stops,” a Germany-based service center source said.
There has been a slight increase in demand for European mills as interest in imports has fallen due to the risk of antidumping investigations, quotas, and long lead times. “Imports carry longer lead times and higher than products from domestic mills,” said the source.
“Why buy from imports when they are at the same price level as domestic mills?” questioned the source. Demand for European flat steel products has risen slightly on supply-side factors, including a reduction in capacity by domestic mills in recent weeks, according to sources.
European flat steel price movements over the past few months have changed with “the introduction of the Chinese stimulus package, political decisions to improve the European economy, and lower European Central Bank interest rates designed to stimulate the economy,” said a Germany-based service center source.
Platts assessed Northwest European HRC at Eur560/mt ex-works Ruhr, stable on the day.
Platts assessed Southern European HRC at Eur555/mt EXW Italy, down Eur5 on the day.
Platts assessed imported HRC in Northwest Europe at Eur540/mt CIF Antwerp, stable on the day.
Meanwhile, Platts assessed imported HRC in South Europe at Eur540/mt CIF Italy, also stable on the day.
