European hot-rolled coil prices remained unchanged July 17, as sources cited disparate conditions among sellers amid general negativity.
Market conditions held largely stable as depressed summer demand fundamentals continued.
“For us, the market is better than expected but not as good as hoped after the new government was elected,” a service center source in Germany said, and indicated HRC offers at Eur560/mt ex-works Ruhr but otherwise calmer conditions.
The same source noted cheaper import offers, but said some origins, such as Indonesian, were not necessarily suitable for the whole market.
A second service center source said business conditions were slower and cited a disparity in attitudes among his customers, but that the majority remained largely negative. “Some of our customers are laughing about the situation as they have good books, and their purchasing prices are getting lower.”
“But the majority are in a bad situation, and are fighting for non-existent orders, with their sales prices dropping faster than their buying prices,” the source added.
Looking ahead, the source referred to the regulatory uncertainty facing the industry, highlighting that CBAM, safeguards and recent tariffs from the US further limited confidence in the market, a view shared by many.
Market participants kept noting a wide range of mill offers during the day, continuing the recent trend of sellers fighting to pick up tonnages in the market.
Platts assessed domestic HRC in Northern Europe at Eur535/mt ex-works Ruhr and in Southern Europe at Eur520/mt ex-works Italy, both unchanged day over day.
Platts assessed imported HRC in Northern Europe at Eur465/mt CIF Antwerp and in Southern Europe at Eur465/mt CIF South Europe, both unchanged day over day.
