European HRC prices remain unchanged amid persistent demand lull

European domestic prices for hot-rolled coil remained stable July 12 as low demand and muted trading activity persisted.

“Market is very weak,” a Germany-based service-center source said. “There is a lot of pressure on prices.”

Sources said that they do not expect any changes in the market until after the summer holidays, and that any attempt to increase prices is futile.

“Euopean mills can‘t increase prices, “ an Italy-based distributor source said. “There maybe some re-stocking in September, but until then, I don’t see any changes.”

Platts assessed Northwest European HRC stable on the day at Eur625/mt ex-works Ruhr on July 12.

Tradable values were heard at Eur610-630/mt ex-works Ruhr.

Meanwhile, Platts assessed domestic HRC prices in Southern Europe stable on the day at Eur625/mt EXW Italy.

Tradable values were heard at Eur620-630/mt EXW Italy, and offers were heard at Eur640/mt ex-works Italy.

Buying interest for carbon-accounted HRC was heard still muted as well. Offers for premium were heard at a minimum Eur100/mt for CO2 content around 1mt, and at Eur150-200/mt for CO2 content around 0 mt, both under scopes 1-2.

Platts assessed the carbon-accounted premium for HRC in Europe stable on the day at Eur125/mt July 12.

Interest in imported HRC also remained dull, due to longer lead times and the risks from safeguard duties.

“If the local mills are offering HRC at Eur620/mt ex-works, nobody would want to buy imports at Eur600/mt CIF,” another service-center source said.

Platts assessed imported HRC in Northwest Europe stable on the day at Eur595/mt CIF Antwerp.

Offers were reported at Eur600-610/mt CIF Antwerp, including anti-dumping duties, for material originating from Turkey. Tradable values were heard at Eur590-600/mt CIF Antwerp, including anti-dumping duties, for material originating from Turkey.

Platts assessed imported HRC in South Europe stable on the day at Eur600/mt CIF Italy.

Offers were reported at Eur610-620/mt CIF Italy for material originating from Indonesia and at Eur610-620/mt CIF Italy, including anti-dumping duties, for material originating from Turkey.

Devbrat Saha


spglobal.com