Trading activity remained subdued across the European domestic hot-rolled coil market on August 18 as summer holidays continued to keep many buyers and sellers away from business.
Sources contacted by Fastmarkets said they would start returning to work the following week, with business activity expected to recover by September.
As of August 18, the most recent deals for October-delivery material heard in Northern Europe were from the end of the previous week, with prices in the range of €715-730 per tonne ex-works.
Market participants confirmed this range remained workable, with offers at €740-750 per tonne ex-works.
Fastmarkets’ daily steel hot-rolled coil index domestic, exw Northern Europe was calculated at €722.50 per tonne on August 18, up by €2.50 per tonne from €720.00 on August 17.
The index was up by €5.62 per tonne week on week and up by €36 per tonne month on month.
The Italian market was similarly quiet, with market participants indicating a tradable level of €705-710 per tonne ex-works, versus offers at €720 per tonne ex-works.
Fastmarkets’ daily steel hot-rolled coil index domestic, exw Italy was calculated at €711.25 per tonne on August 18, up by €0.25 per tonne day on day from €711.00 per tonne on August 17.
The index was down by €2.50 per tonne week on week but up by €6.25 per tonne month on month.
