The European hot-rolled coil market was steady June 27 amid slow trading activity, with market participants expecting low demand for the upcoming summer period and reduced steel production as mills close for maintenance.
“Information is very similar, same levels,” a steel distributor said.
Market sources have said that some eastern European participants were struggling.
In Southern Europe, particularly Italy, some mills were experiencing downtime. Additionally, imports have continued to fall, further contributing to subdued market activity.
“Italian mills are empty,” a service center source said. “Imports totally out.”
The market for imported HRC was stable through the trading day, and buying interest for carbon-accounted HRC remained at previous levels, with European premiums valued at Eur125/mt on June 27, unchanged on the day.
Platts assessed Northwest European HRC at Eur630/mt on June 27, stable on the day. Platts assessed domestic HRC prices in South Europe at Eur625/mt ex-works Italy, stable on the session.
Geraint Moody
