Domestic prices for European hot-rolled coil remained unchanged Aug. 29 amid sluggish demand and muted activity.
“No major changes since last updates,” a distributor source said. “Customers are slowly coming back, but not showing a real demand.”
Market sources are unsure regarding the outlook for European coils in the next few weeks, with some speculating there may be some movement as market players return from holidays and mills attempt to fill order books.
Platts assessed Northwest European HRC at Eur595/mt ex-works Ruhr Aug. 29, stable on the day.
Offers were reported at Eur580/mt ex-works Northwest Europe, however these prices were for larger tonnages, which fall outside the Platts methodology specifications.
Tradable values were reported at Eur590-600/mt ex-works Northwest Europe.
Meanwhile, Platts assessed domestic HRC prices in Southern Europe at Eur595/mt ex-works Italy Aug. 29, also stable on the day.
Interest in imported HRC has been rising as some mills have lowered offers, and agreed to pay safeguard duties in some cases. A favorable exchange rate between the euro and dollar has also made imports more appealing, sources said.
Platts assessed imported HRC in Northwest Europe stable on the day at Eur559/mt CIF Antwerp.
Offers for China-origin material continued to permeate the market, reported at Eur560/mt CFR Antwerp, including anti-dumping duties. Offers for Vietnam-origin material were heard at Eur550/mt CFR Antwerp.
“Probably next week we will have some movement,” a distributor source said.
