Soft demand tempered price increases in the European domestic hot-rolled coil market, Fastmarkets heard on Monday March 16.
Market participants unanimously reported the lack of interest from customers’ side amid sufficient stocks, while mills were also said to be well-booked.
“Demand isn’t strong right now, but that’s mainly because buyers already have enough material to cover their needs well ahead, while mills have sufficient orders, so no one needs to rush,” a buyer from Benelux area said.
Sellers and buyers in Northern Europe said that while last week the market leader made some initial sales at €720-730 ($822-833) per tonne ex-works, the level of €700 per tonne ex-works was still more applicable to wider trade.
Fastmarkets’ daily steel hot-rolled coil index domestic, exw Northern Europe was calculated at €705.63 ($805.61) per tonne on March 16, down by €7.49 from €713.57 on March 13.
The decrease in the index is not a sign of a market trend reversal but rather a result of the lack of new transactions at higher price levels. The index was up by €4.17 per tonne week on week and by €45.63 per tonne month on month.
Sellers from Italy hold offers for May-June delivery coils at €700 per tonne ex-works. However, latest assessments of workable prices came at €680-690 per tonne ex-works.
Fastmarkets daily steel hot-rolled coil index domestic, exw Italy was assessed at €694 per tonne on March 16, up by €1.5 per tonne from €692.50 per tonne ex-works on March 13.
The index was up by €9 per tonne week on week and by €42.4 per tonne month on month.
Market participants reported that buyers have become increasingly cautious about imports, fearing that changes in transportation routes — particularly for material sourced from Asia — could result in delays. Their concern is that shipments may not arrive before the new safeguard measures take effect in July 2026.
“Bid trading houses are not very keen to take on more business as importers of records,” a representative of a large trading company said.
Another trader noted that some Asian mills are now offering on an FOB basis, unwilling to assume the additional costs and risks associated with rapidly changing freight rates driven by the US‑Iran conflict.
HRC from India and Turkey was heard available at €560–580 per tonne CFR, with Turkish material including the anti-dumping duty.
Offers from Asia for HRC scheduled for shipment in May–June were said to be around €630–640 per tonne DDP.
