European HRC market quiet amid seasonal closures

The European steel hot-rolled coil market remained subdued on Monday August 14 with no trades reported due to holiday closures, industry sources told Fastmarkets.

Fastmarkets calculated the daily steel HRC index, domestic, exw Northern Europe at €644.58 ($705.43) per tonne on Monday, unchanged from Friday August 11.

The Northern Europe index was down by €1.25 per tonne week on week and down by €27.67 per tonne month on month.

Seasonal effects and weak demand resulted in a flat market, sources said.

In the week to August 11, most buyers’ estimates of a tradable price were in the region of €620-650 per tonne ex-works.

Fastmarkets’ calculation of the daily steel HRC index, domestic, exw Italy was €633.68 per tonne on Monday, also unchanged from Friday.

The Italy index was down by €2.57 per tonne week on week on Thursday, and down by €21.32 per tonne month on month.

In the week to August 11, buyers’ estimates of workable prices for HRC for delivery in September-October were reported at €630-640 per tonne ex-works.

No fresh import offers were reported on August 14.

Published by: India-Inés Levy