Northwest European HRC prices rise as market activity slowly recovers

Transactions for the domestic hot-rolled coil have been settled at higher prices in Northwest Europe Jan. 8 as market activity has started to gradually recover from the Christmas holidays lull.

Deals have been reported at Eur720-730/mt ex-works Northwest Europe.

Tradable values have been heard at Eur720/mt ex-works Ruhr.

Offers have been reported at Eur740-750/mt on either delivered Germany or ex-works Ruhr basis depending on a mill and a buyers’ location.

Platts assessed domestic prices for hot-rolled coil in Northwest Europe up by Eur15/mt on day to Eur725/mt ex-works Ruhr on Jan. 8.

The bullish sentiment has been supported by expected seasonal demand recovery combined with good order books of the mills. Northwest European steelmakers have been offering late March-April delivery coil.

“I think we will see higher prices by the end of this week when more buyers return to the market,” a mill source said.

Some market participants, however, expressed concerns that the limited real demand as well as restart of majority of the blast furnaces idled in 2023 in the EU would not allow a sustainable and continuous price rise.

Author Maria