Market activity remains subdued as most participants are expected to attend the Euroblech steel conference in Hanover, Germany. A Germany-based service center source confirmed that “there will not be much substantial business taking place this week.”
Pessimistic economic forecasts for the German and Austrian economies contributed to ongoing weak real demand in the European steel market. A Germany-based service center source rumored that “some European mills will try to cut production and cut some blast furnaces.” However, this remains to be seen.
Platts assessed Northwest European HRC at Eur555/mt ex-works Ruhr Oct. 21, stable on the day.
An offer was reported at Eur560-570/mt ex-works Ruhr. Tradable values were reported at Eur545-570/mt ex-works Ruhr.
Platts assessed domestic HRC in Southern Europe at Eur545/mt ex-works Italy, stable on the day.
Offers were reported at Eur560-600/mt ex-works Italy.
Platts assessed imported HRC in Northwest Europe at Eur520/mt CIF Antwerp, stable on the day.
Platts assessed imported HRC in Southern Europe at Eur535/mt CIF Italy, stable on the day.
Platts is part of S&P Global Commodity Insights.