Domestic prices for hot-rolled coil remained stable in Northern Europe on June 20 due to limited trading activity, while prices in Italy softened on fresh deals.
Platts assessed HRC in Northern Europe at Eur875/mt ex-works Ruhr, unchanged day on day, according to data from S&P Global Commodity Insights.
Achievable prices for HRC in the region have been reported at Eur850-900/mt ex-works.
Bearish sentiment prevailed in the market due to weak demand from end consumers, high stocks across the supply chain, and a bearish trend that made buyers remain in wait-and-see mode. However, as several sources reported a possible blast furnace stoppage in France, the downfall in prices might come to an end as supply and demand could come closer to a balance.
“In the EU mills will continue to reduce productions, after announced cuts at Salzgitter and ArcelorMittal Dunkirk, market trend might change very fast,” an Italian trader said.
Hot-rolled coil in Southern Europe was assessed at Eur820/mt ex-works Italy June 17, down Eur15 day on day.
Deals have been reported at Eur820/mt ex-works, and tradable value was reported at Eur820-830/mt ex-works.
— Maria Tanatar, Benjamin Steven