European hot-rolled coil prices rose slightly Dec. 19, as sources confirmed a large increase in offer levels by a major European mill.
Sentiment remained uncertain over the direction of price movement, with questions over whether the market would see a significant improvement in real demand for steel in 2025.
A mill source expressed “mixed feelings” over improved price stability in the European flat steel market stating that “mills are not complaining about the quantity of orders, but over margins, which are under pressure.”
“No customers want to buy too much stock at current price levels, instead, customers only buy what they need,” the source said.
Sources reported that mills and producers in Europe have been “aggressive” in their pricing strategy as they compete for low levels of demand.
“Imports are not present in the market,” a source said, stating that it’s because of their uncompetitive pricing and uncertainty over the European Commission’s newly announced safeguard review. Customer confidence in imports fell due to long delivery lead times, and the on-going risk of anti-dumping investigations.
Platts assessed Northwest European HRC at Eur560/mt ex-works Ruhr, up Eur5 on the day.
Platts assessed Southern European HRC at Eur555/mt ex-works Italy, stable on the day.
Platts assessed imported HRC in northwest Europe at Eur530/mt CIF Antwerp, stable on the day.
Meanwhile, Platts assessed imported HRC in South Europe at Eur530/mt CIF Italy, stable on the day.
