European hot-rolled coil producers were gradually pushing for higher prices for the first quarter volumes. Meanwhile, buyers questioned the size and the sustainability of the increases that could be accepted amid a lack of real demand, Fastmarkets heard on Wednesday October 22.
German and Benelux-based mills were looking to achieve €620-630 per tonne ex-works for January delivery coil.
Buyers generally agreed that with the Carbon Border Adjustment Mechanism (CBAM) and new trade measures, uncertainty was expected to limit new imports or “push import prices close to the European.” Therefore, domestic HRC prices were expected to rise.
“We do expect an increase for the first quarter delivery coil, but the question is, how much and for how long it will last since demand from end-users is not rising,” a buyer in Germany said.
“Our customers are quiet; we haven’t booked many tonnages for the first quarter yet,” a steel service center in Germany told Fastmarkets.
“There are no serious volumes booked for January; buyers are waiting,” a second steel-service center added.
Buyers’ prices ideas for January delivery coil were not exceeding €610 per tonne ex-works so far, while December delivery coils were booked at no higher than €580-590 per tonne ex-works.
Supplier sources estimated achievable prices for January coil at €610-620 per tonne ex-works.
As a result, Fastmarkets’ daily steel hot-rolled coil index domestic, exw Northern Europe was €597.14 per tonne on Wednesday, up by €2.14 per tonne from €595.00 per tonne on Tuesday.
The index rose by €8.14 per tonne week on week and by €19.64 per tonne month on month.
In Italy, offers from one local supplier were heard within the range of €630 per tonne delivered (€610-615 per tonne ex-works).
Another seller was aiming closer to €600 per tonne delivered, while customers’ price ideas of workable levels varied.
Some of them provided estimates at €570-580 per tonne ex-works, adding that levels above that are not achievable at the moment, due to low demand and high availability of HRC in the market, both imported and domestic.
Some stakeholders on the buy side gave estimations that were closer to mills’ target levels — at €600-610 per tonne delivered.
“There are mixed feelings in the market about new price increases; nobody is buying much for January yet,” a local distributor said.
As a result, Fastmarkets’ daily steel hot-rolled coil index domestic, exw Italy was calculated at €588.33 per tonne on Wednesday, up by €2.91 per tonne from €585.42 per tonne on Tuesday.
The Italian index was up by €11.66 per tonne week on week but up by €38.33 per tonne month on month.
The market for imported HRC has been quiet lately because most of the overseas suppliers are offering HRC with delivery in the first quarter of 2026. Therefore, prices for these tonnages will be subject to EU’s CBAM.
Offers from Turkey were reported at €530 per tonne CFR, including the anti-dumping duty, but a local buyer said that with CBAM costs (estimated at €55 per tonne), unloading and delivery costs, the prices will be “close to European” and around €620-630 per tonne delivered.
From Indonesia, offers were reported around €470 per tonne CFR, excluding CBAM costs.
Marina Shulga in Dnipro contributed to the report.
