European hot-rolled coil prices remained firm July 31, with mills across the region maintaining offer levels and preparing ground for price increases expected to take shape post-summer.
In Northern Europe, tradable values were pegged between Eur550-570/mt ex-works Ruhr, while offers remained largely unchanged at Eur590/mt for October deliveries. Market sources said the spread reflected remaining volumes for the third quarter and growing anticipation of a September uptrend.
“There’s a clear expectation that prices will rise, mills are laying the groundwork now, even if demand isn’t quite there yet,” a service center source said.
Import markets showed little movement, with Turkish offers into Antwerp heard at Eur530/mt CIF, duty paid. Indian material was more competitively priced around Eur500/mt CFR, but buyers showed limited urgency as CBAM uncertainty and timing risks weighed on sentiment.
“Import offers look attractive on paper, but there’s hesitation across the board. Everyone’s wary of whether they’ll get the material cleared this side of the year,” a trader said.
In Southern Europe, domestic HRC offers ranged between Eur550-560/mt ex-works Italy for late Q3 output. Turkish offers into Italy were seen at Eur520-525/mt CFR, duty paid, with Indian coil again undercutting at Eur500/mt.
Despite still-sluggish real demand, some mills were heard pushing up prices, banking on restocking and a potential economic rebound after the holiday lull. However, buyers remained cautious, with most sitting out the current spot market in anticipation of more clarity in September.
Platts assessed domestic HRC in Northern Europe at Eur560/mt ex-works Ruhr, up Eur5 on the day, and in Southern Europe at Eur530/mt ex-works Italy, stable on the day.
Platts assessed imported HRC in Northern Europe at Eur475/mt CIF Antwerp, and in Southern Europe at Eur470/mt CIF Italy, both stable on the day.
