For the next few months, the European coil market is expected to remain stable for the summer holidays, with no significant improvement in demand. There is anticipation of bearish pressure on prices as mills plan maintenance works.
This, combined with weak market fundamentals in both demand and supply, will result in a muted market for the rest of the summer, despite potential price fluctuations caused by the new EU safeguard measures, market sources said.
“There are no firm bids,” a service center source said. “[There is also] no need for material from customers.”
“Market has been quiet since some weeks,” another service center source said.
Platts assessed Northwest European HRC at Eur629/mt on July 2, down Eur6 on the day. Meanwhile, Platts assessed domestic HRC prices in South Europe at Eur630/mt ex-works Italy, stable on the day.
