EU HRC prices stable as market activity remains muted

Trading activity in the European hot-rolled coil market was slow Sept. 4, keeping domestic prices unchanged.

Northwest European steelmakers have been targeting prices of Eur700/mt ex-works Ruhr, and some Central European mills Eur710/mt delivered Germany, but buyers have been reluctant to accept such prices.

Market participants have estimated tradable values at Eur620-680/mt ex-works Ruhr, with the majority of data heard at around Eur670/mt ex-works Ruhr.

“Demand is weak,” a distributor said. “Prices of Eur650/mt ex-works are not flying. Prices of Eur620-630/mt ex-works would not guarantee deals either.”

Platts assessed domestic prices for hot-rolled coil in Northwest Europe at Eur670/mt ex-works Ruhr Sept. 4, unchanged day on day.

Platts assessed domestic prices for hot-rolled coil in South Europe up Eur5/mt day on day to Eur645/mt ex-works Italy Sept. 4. Tradable values have been reported at Eur640-650/mt ex-works Italy.