There was a slight pick-up in trading, but it was related to the expected longer lead times from some suppliers, Fastmarkets understands.
According to industry sources, some steelmakers were planning to extend their winter holiday closures, resulting in longer lead times for HRC.
Fastmarkets calculated its daily steel hot-rolled coil index domestic, exw Northern Europe at €561.88 ($590) per tonne on Monday, down by €0.62 per tonne from €562.50 per tonne on Friday December 13.
The index was down by €1.60 per tonne week on week and by €0.62 per tonne month on month.
Mills in Northern Europe continued aiming at €600 per tonne ex-works for HRC with delivery in the first quarter of 2025, industry sources told Fastmarkets.
However, material was also offered at €570-590 per tonne ex-works, Fastmarkets understands.
Some deals for small volumes were heard at €560 per tonne ex-works.
According to industry sources, the workable market level for HRC in Northern Europe was at €550-560 per tonne ex-works.
In Southern Europe, meanwhile, Fastmarkets calculated its daily steel hot-rolled coil index, domestic exw Italy at €561.25 per tonne on Monday, down by €0.25 per tonne from €561.50 per tonne on Friday.
The Italian index was up by €0.83 per tonne week on week and by €5.25 per tonne month on month.
According to industry sources, local suppliers were heard offering HRC with delivery in the first quarter of 2025 at €580-620 per tonne delivered, which would net back to €570-610 per tonne ex-works.
“The actual levels [in deals] are still far below [the targeted price by mills of] €600 per tonne ex-works,” a buyer source based in Italy told Fastmarkets.
According to the source, suppliers in Italy would probably try another price increase after the Christmas holidays, targeting levels higher than €600 per tonne ex-works.
Meanwhile, a medium tonnage deal of HRC from Italy to Germany was heard at €580-590 per tonne delivered, with the freight cost between the two countries estimated at around €50 per tonne.
Buyers’ estimations for the workable market level were at €550-570 per tonne ex-works.
In terms of imports, Turkey was heard offering HRC to Italy at $590 per tonne CFR, including the anti-dumping duty.
Asia-origin coil was on offer to Italy at €590 per tonne CFR, industry sources told Fastmarkets.
Some volumes of HRC from Ukraine were booked in Italy at €530 per tonne CFR, Fastmarkets understands.
