European hot-rolled coil prices inched down Dec. 17 as some mills lowered their offers for January-February delivery in order to fill production.
“Mills reduced domestic offers to fill January-February production,” a Germany-based distributor said.
Offer levels for March delivery remained at Eur600/mt ex-works Ruhr, sources said.
“Yes, mills have raised offers for January-February delivery,” another Germany based distributor source said. “However, for March they ask 600 plus. For the first half year 650, which they have achieved in some cases.”
Market activity has been limited, as most participants are heading into the holidays, sources said. “Prices are stable with no movement in market activity,” a Germany-based service center source said.
“The market has been very weak,” an Italy-based distributor said. “Everybody is waiting for the last day of activity, which is Friday, Dec. 20.”
Platts assessed Northwest European HRC at Eur555/mt ex-works Ruhr, down Eur5 day over day.
Meanwhile, Platts assessed Southern European HRC at Eur555/mt ex-works Italy, stable day over day.
The interest in imported HRC remained low due to comparable domestic prices, as well as concerns around safeguard duties and longer lead times.
“Import prices are not that interesting,” the Germany-based source said. “Quota, safeguard duties and tariffs are all concerns, making imports unattractive to buyers.”
Platts assessed imported HRC in Northwest Europe at Eur540/mt CIF Antwerp, stable day over day.
Meanwhile, Platts assessed imported HRC in South Europe at Eur535/mt CIF Italy, down Eur5 day over day.
