European HRC prices remain mostly steady on weak demand, muted activity

European domestic prices for hot-rolled coil remained mostly steady July 26 on muted activity and weak demand, due to summer holidays in most European countries.“No changes at all,” a distributor source said. “Everybody is on holiday.”

In the first half of this year, demand for flat steel products has been lower compared to last year, primarily due to unfavorable market fundamentals stemming from slow growth in both the automotive and construction industries.

Similarly, consumer demand for imported coils has remained mostly muted due to the implementation of EU safeguard measures. There has been some interest in coils of Turkish origin, mainly due to comparable lead times, sources said.

Platts assessed Northwest European HRC at Eur625/mt ex-works Ruhr July 26, down Eur5/mt.

Tradable values were reported at Eur610-640/mt ex-works Ruhr.

Meanwhile, Platts assessed domestic HRC prices in Southern Europe stable on the day at Eur625/mt ex-works Italy July 26.

Tradable values were reported at Eur620/mt.

Geraint Moody | Devbrat Saha