The European domestic market for steel hot-rolled coil (HRC) remained quiet on Friday April 24, with no new trades heard during the day. Both buyers and sellers were waiting for more clarity on the new EU trade regime, and especially the country-specific import-quota allowances that will come into force on July 1, 2026.
Availability of material scheduled for delivery in June was limited, with two German producers reported to be inactive in the spot market because of strong order backlogs. Meanwhile, a supplier in the Benelux region was expected to restart production next week after a maintenance outage.
Estimates of workable prices were heard in the range of €700-720 ($819-842) per tonne ex-works, which was reflected in Fastmarkets’ daily steel hot-rolled coil index, domestic, exw Northern Europe, assessed at €710.00 per tonne on Friday.
The index was up by €1.67 per tonne week on week, but down by €6.00 per tonne month on month.
The market leader had yet to announce its offers for July-delivery volumes and other mills in the region had not given any firm offers either.
The Italian market was also very quiet during the week. Market sources in the country estimated achievable prices for HRC to be around €700 per tonne ex-works, and local sellers kept their offers at that price or higher.
So Fastmarkets’ daily steel hot-rolled coil index, domestic, exw Italy, was calculated at €700.00 per tonne ex-works on April 24, stable day on day.
The index was also stable in a week on week comparison but was up by €2.50 per tonne month on month.
But while the domestic market was quiet in Europe, market sources reported two Turkish cargoes being sold to the region.
One Turkish supplier was heard selling its cargo at $640-650 per tonne FOB, while another seller was reported selling 15,000 tonnes of material at €590 per tonne CFR, including anti-dumping duty.
In Central Europe, HRC prices decreased in the week to April 22 with buyers resisting higher offers from mills.
The drop was despite recent increases in production costs as a result of soaring prices for energy and for raw materials linked to the US-Iran war.
This week offers from mills were reported around €695-715 per tonne ex-works, while estimates of workable prices were heard around €700 per tonne ex-works.
No new trading was reported during the assessment period.
Fastmarkets’ weekly price assessment for steel hot-rolled coil, domestic, exw Central Europe, was €695-715 per tonne on Wednesday, falling from €700-720 pert tonne the previous week.
