The European domestic hot-rolled coil market was quiet on Monday February 9, with trading activity limited and prices largely flat.
Offers from European integrated flat steel producers for April-delivery coil continued to vary within €670-685 ($791.51-809.24) per tonne ex-works.
Both sellers and buyers reported contracts being signed within €645-655 per tonne ex-works. Trading activity, however, was said to be moderate because customers’ inventories remain high.
Fastmarkets’ daily steel hot-rolled coil index domestic, exw Northern Europe was €653.33 per tonne on Monday, down by €2.92 per tonne from €656.25 per tonne on Friday February 6.
The index was up by €2.50 per tonne week on week and by €18.33 per tonne month on month.
Italy-origin HRC was reported traded to Northern Europe at €655-660 per tonne delivered.
A similar situation was observed in the domestic market of Italy. Local suppliers have largely sold out March-delivery HRC, with April-delivery coil offers quoted at €660-685 per tonne ex-works.
Tradeable levels, meanwhile, continued to vary within €640-650 per tonne ex-works.
Fastmarkets’ daily steel hot-rolled coil index domestic, exw Italy was calculated at €645.00 per tonne on Monday, down by €2.92 per tonne from €647.92 per tonne on Friday.
The index was down by €6.67 per tonne week on week but up by €15.00 per tonne month on month.
