European hot-rolled coil prices were broadly stable amid an extended trading standstill, with industry stakeholders seeing no room for a rebound during the summer months, Fastmarkets heard on Thursday May 21.
“We won’t see prices [for HRC] with a ‘7’ in front until the end of summer,” a buyer in Europe said.
A supplier source agreed it was increasingly difficult to secure transactions even at €700 ($820.56) per tonne delivered, let alone on an ex-works basis.
In Germany, deals were reported at €675 per tonne ex-works on Tuesday May 19. Earlier in the week, transactions were heard at €675-685 per tonne delivered (€660-670 per tonne ex-works).
“Mills need to fill order books for summer, and some of them are opting for volume over price,” a buyer in Germany said.
A supplier in the Benelux area was not active in the market due to a pending technical issue, sources said.
“[Integrated mill in the Benelux area] does not actively offer coil. Their lates offers for July [delivery] were well above €700 [per tonne ex-works], which is not workable now, but they are also not in a hurry to sell,” a buyer in the Benelux area said.
The supplier continued to face technical issues with a slab thinning unit, leaving it short by around 70,000-80,000 tonnes of HRC in the near term and limiting its pricing flexibility.
As a result, Fastmarkets’ daily steel hot-rolled coil index domestic, exw Northern Europe was calculated at €680.42 per tonne on May 21, down by €1.58 per tonne from €682 per tonne on May 20.
The index was down €3.33 per tonne week on week and down €27.58 per tonne month on month.
In Southern Europe, Fastmarkets’ daily steel hot-rolled coil index domestic, exw Italy was calculated at €677.50 per tonne on May 21, down by €0.50 per tonne from €678 per tonne on May 20.
The index was up €2.50 per tonne week on week but down €22.50 per tonne month on month.
The Italian HRC market remained similarly quiet. Weak demand and comfortable inventory levels at buyers continued to dampen trading activity, with offers heard at €700 per tonne delivered (€685 per tonne ex-works).
Industry sources noted, however, that lower prices could be achieved on larger tonnages, with achievable price estimates coming in at €665-680 per tonne ex-works during the week commencing Monday May 18.
In the secondary market, 4mm S235-grade hot-rolled sheet prices consolidated at €770-780 per tonne CPT Italy, easing from €780-800 per tonne CPT reported at end-April.
Import market activity was similarly muted. Lingering uncertainty over the shape of the new trade regime due to take effect in July 2026, alongside a lack of clarity on costs tied to the EU’s Carbon Border Adjustment Mechanism (CBAM), kept buyers on the sidelines and dampened appetite for fresh import bookings.
On pricing, one Indian mill was heard offering material around €595-605 per tonne CFR to Italy earlier this week.
Turkey-origin coil was heard offered at €695 per tonne DDP in Italy, inclusive of anti-dumping duty and CBAM costs.
Asian HRC was heard offered at €640-660 per tonne DDP from stock in Antwerp. The price reportedly included CBAM costs.
