Sources reported quieter activity as the market reopened after the Easter break, as many remained optimistic for a clearer price direction at the start of May.
“I think it will be a quiet week, and a slow return to how it was before … Many are in wait-and-see mode and or are still on the Easter break,” a German service center source said, anticipating largely unchanged market fundamentals.
Another source said all June deliveries had been paused amid negative market sentiment and general uncertainty.
“I am no longer offering for June deliveries anymore,” a trader source said.
Some Northern European Mills also shared reports of continuing to wait out the uncertainty and recent price stability, opting to hold material for better prices.
“We are not really offering at the moment because our capacities are limited and when we offer, we are way too expensive,” a mill source said.
Other buyer-side sources also reported waiting on the sidelines, citing the recent turbulent US tariff updates and changing policies in Europe.
HRC import offers were heard at Eur600/mt CIF Antwerp, ex-Turkey, duty paid while HRC net remaining import quotas for Turkey decreased from 70.44% on April 17 to 63.55% on April 22.
Platts assessed HRC in Northwest Europe stable at Eur650/mt EXW Ruhr on April 22, and in Southern Europe at Eur625/mt EXW Italy, both stable day over day.
Platts assessed imported HRC in Northern Europe at Eur545/mt CIF Antwerp, and in Southern Europe at Eur535/mt CIF Italy, both stable day over day.
Alexander Wong | Charles Thompson
