The price of European domestic hot-rolled coil remained largely unchanged, as the industry is now in the holiday season, with many market participants currently out.
Some market sources believe that mills are still attempting to test the market by increasing prices, but others remain skeptical, stating that consumer interest is not present enough in the market for there to be any change.
“I think European mills will definitely try to increase prices,” one trader said.
“Market is still too low and will be for the rest of the year,” a service center source said. “There is no activity in the market.”
With demand remaining low and supply remaining well ahead in Europe, some market sources have commented that mills are struggling to find orders.
“The market is flat, mills are desperate for quantities,” a distributor said. As long as consumption doesn’t pick up, there will not be any change in prices, the distributor added.
Platts assessed Northwest European HRC stable on the day at Eur625/mt ex-works Ruhr on July 15.
Meanwhile, Platts assessed domestic HRC prices in Southern Europe also stable on the day at Eur625/mt ex-works Italy on July 15.
Some indications were heard for carbon accounted steel, with an offer for premium reported at Eur95-140/mt, with a CO2 content around 0mt at scopes 1-2.
Platts assessed the carbon-accounted premium for HRC in Europe down Eur5/mt on the day at Eur120/mt July 15.
Geraint Moody