European domestic prices for steel hot-rolled coil were largely unchanged on Monday January 12 with trading being quiet. Market sources from both Northern and Southern Europe reported subdued demand, but offered different reasons.
Suppliers from Northern Europe offered HRC for delivery in March-April at €650-670 ($758-782) per tonne ex-works. Some special volumes from February delivery were said to be available at lower prices, but tonnages were limited.
Meanwhile, workable prices were said to be €630-635 per tonne ex-works with no bookings heard during the day.
A trading source said that service centers building stocks higher than normal at the end of 2025, expecting price rises to be caused by the EU’s Carbon Border Adjustment Mechanism (CBAM), was the reason for quiet demand after the winter holidays.
Fastmarkets’ daily steel hot-rolled coil index, domestic, exw Northern Europe, was €635.63 ($739.19) per tonne on January 12, up by just €0.63 per tonne from €635.00 per tonne on January 9.
The index was up by €5.63 per tonne week on week and by €13.96 per tonne month on month.
The Italian market was also said to be quiet, with no major deals heard during the day.
A local market source suggested low consumption and a struggling economy, as well as Europe’s low competitiveness in export markets, as reasons for the low demand.
The latest buyers’ estimates of tradable prices were heard at €620-630 per tonne ex-works, while offers of February- and March-delivery HRC were heard around €630-650 per tonne ex-works, depending on supplier.
Fastmarkets’ daily steel hot-rolled coil index, domestic, exw Italy, was calculated at €627.50 per tonne on Monday, down by €2.50 per tonne day on day.
The index was up by €4.38 per tonne week on week and by €16.25 per tonne month on month.
The import HRC market in Europe was at a stalemate with buyers facing a lack of clarity over the new import mechanism following the introduction of CBAM on January 1.
“I do not think anyone knows how much we are going to pay, and what are actual versus default values,” one buyer said.
Indian HRC was available within the range of €490-510 per tonne CFR, while Turkish material was offered at €510 per tonne CFR.
