The European hot-rolled coil market traded sideways Aug. 4 as most players were absent from the spot market.
Sources said some mills were hinting at future price rises following the summer when restocking activities are expected, but that current trading was limited.
“Mills and end-users are keeping a low profile at the moment,” said a Benelux distributor.
“Our stock is sufficient including for September. Not sure where prices will go, so no reason to buy now,” the distributor added.
An Italian mill offer for September was heard at Eur700/mt EXW Italy minimum Aug. 4 but no business was reported at that level.
Sources said some mills were slowly positioning themselves for expected restocking activity after August and were thinking about increasing offer prices.
However, some sources said this would rather be to maintain current price levels amid a mixed view on sustained price increases in Q4.
The European market is expected to remain quiet in August amid maintenance works and summer stoppages at suppliers.
Platts daily HRC assessments in Italy and in the Ruhr region were assessed unchanged Aug. 4 at Eur635/mt EXW Italy and Eur640/mt EXW Ruhr, respectively.
Platts is part of S&P Global Commodity Insights.
Author Laura Varriale
