European domestic hot-rolled coil prices saw a modest uptick on Feb. 28, with market participants closely monitoring the upcoming EU safeguard review, which is widely expected to impact import volumes and pricing dynamics.
A North Europe-based mill source reported tradable values for 1,000-2,000 mt at Eur620/mt ex-works Ruhr, while offers in the region were heard at Eur640-650/mt ex-works Ruhr.
Sources noted that some mills had withdrawn lower offers earlier in the week and were preparing to reenter the market with price increases of at least Eur20/mt.
In Southern Europe, the Italian market saw tradable values at Eur600-610/mt ex-works Italy, with offers for orders exceeding 1,000 mt starting at a minimum of Eur600/mt.
Despite an overall cautious approach from buyers, a mill source emphasized that the market remained active, with no possibility of booking domestic material below Eur600/mt.
Import pricing remained a focal point for buyers assessing competitiveness against domestic supply.
Turkish-origin HRC offers were reported at Eur600-610/mt CIF Italy, duty paid, with tradable values slightly lower at Eur580-590/mt.
Meanwhile, lower-cost options were available from Indonesia and Malaysia, with offers at Eur550/mt CIF Italy.
A Germany-based distributor highlighted an improving market sentiment, with apparent consumption picking up and optimism growing among buyers.
“Not all mills are very busy, but they are withdrawing offers with the intention to return with higher pricing,” the source said.
The distributor also pointed to rising US prices, which, despite the 25% tariff, may not significantly deter EU exports, as US buyers appear willing to absorb the additional cost.
With the safeguard review announcement expected imminently, market participants remain focused on potential changes to quota allocations and procedural adjustments.
One trader suggested that the review could introduce measures to tighten regulations and close loopholes, further shaping the import landscape.
Platts assessed HRC in Northwest Europe at Eur612.50/mt ex-works Ruhr, up Eur2.50 on the day. In Southern Europe, HRC was assessed at Eur605/mt ex-works Italy, stable on the day.
Platts assessed imported HRC in Northwest Europe at Eur550/mt CIF Antwerp, and at Eur545/mt CIF South Europe, both stable on the day.
