Deals for January delivery have not been numerous yet in Northern Europe, as some mills have not been active in offers. But some volumes were heard booked at €610 ($710) per tonne ex-works, in line with earlier voiced expectations versus mills’ bullish targets of €620-650 per tonne ex-works.
Nevertheless, €610 per tonne ex-works is still a progress from the level of €580-590 per tonne ex-works which was widely seen in deals for December-delivery material.
Market participants expected the next several weeks to be quiet with customers still digesting price rises and upcoming changes in protection measures, with buying activity expected to pick up by December.
Additionally, information came to light about a fire halting production at thyssenkrupp’s hot strip mill in Duisburg, Germany, late on Friday October 24. The market is still assessing the effect of the accident.
Fastmarkets’ daily steel hot-rolled coil index domestic, exw Northern Europe was €602 per tonne on October 27, up slightly from €600.88 per tonne on October 24.
The index was up by €10.54 per tonne week on week and by €24.29 per tonne month on month.
In Italy, the situation with December-delivery coils was quite similar to Northern Europe, with January volumes not widely available yet, according to sources.
Current workable levels were heard at €575-585 per tonne ex-works, versus offers at €600-610 per tonne ex-works.
Fastmarkets’ corresponding daily steel hot-rolled coil index domestic, exw Italy was calculated at €591.25 per tonne on Monday, up from €590 per tonne on October 24.
The Italian index was up by €6.25 per tonne week on week and by €40.62 per tonne month on month.
After last week’s information about a booking of 40,000 tonnes of Indonesian HRC at €465-470 per tonne CFR with delivery in 2026 and a buyer covering all costs, several market sources reported news about the possible inclusion of Indonesia in safeguards as early as January 2026. No official document confirming this was seen by Fastmarkets.
