Daily steel hot-rolled coil prices rose in Northern Europe on higher mill targets, while demand remained limited due to high stocks, sources told Fastmarkets on Monday October 19. In Italy, prices fell on weak demand and slow activity.
In Northern Europe, sources said demand was slow and buying activity was weak, but suppliers were heard targeting higher levels in the market.
On Monday, a buyer source reported an offer for material at €760 ($854) per tonne ex-works, which was in line with previous indications heard in the market from buyers.
A second buyer source reported a bid price at €750 per tonne delivered, saying customers were leaning towards this level in Germany, which nets back to €730-735 per tonne ex-works after deducting delivery costs of €15-20 per tonne, according to them.
The same source said mills in the country were targeting levels at €770 per tonne delivered, or €750-755 per tonne ex-works after deducting delivery.
“Coil prices in Italy and Germany have remained largely stable over the past two weeks, as weak buying activity and limited supply have kept the market balanced,” the second buyer told Fastmarkets.
A third buyer source provided an indication at €750 per tonne ex-works, saying this was the level they were seeing for material still available for delivery in 2026.
The same source said stocks in the market remained high, adding that they expected levels to reach €765 per tonne ex-works in 2027, but this price was not included in the index due to forward-looking sentiment.
The third buyer also reported an offer for 1,000 tonnes for late December delivery at €760 per tonne ex-works. However, this price was discarded from the index calculation, as it fell outside of Fastmarkets’ methodology delivery window of up to 6 weeks.
Thus, Fastmarkets’ daily steel hot-rolled coil index domestic, exw Northern Europe was calculated at €748.75 per tonne on October 19, up by €3.75 per tonne from €745 per tonne on October 16.
The index was up by €7.08 per tonne week on week and by €11.25 per tonne month on month.
In Italy, market activity was slow on Monday, as sources said demand for material remained low.
A buyer source said local mills were “testing the market,” while targeting levels of €760-770 per tonne delivered for December shipment, which nets back to €740-755 per tonne ex-works after deducting delivery costs of €15-20 per tonne, according to them.
However, this price range was discarded from the index calculation, as it fell outside of Fastmarkets’ methodology delivery window of up to 6 weeks.
The same source said workable levels in the market were estimated at €750 per tonne delivered, which is equivalent to €730-735 per tonne ex-works.
These levels remained achievable for base prices, a second buyer source said on Monday, while providing a higher indication of workable prices in the market within the range of €740-750 per tonne ex-works.
The higher price range was in line with the latest offers reported on Friday October 16 by a supplier, which were carried over to Monday’s index calculation to balance data.
As a result, Fastmarkets’ daily steel hot-rolled coil index domestic, exw Italy was calculated at €741.88 per tonne on October 19, down by €1.87 per tonne from €743.75 per tonne on October 16.
The index was up by €1.88 per tonne week on week and by €11.13 per tonne month on month.
