European domestic hot-rolled coil prices extended gains on Monday March 9 as difficult import conditions reduce competitive pressure, while growing cost burdens continue to underpin mills’ pricing strategies.
In Northern Europe, most recent deals for HRC were said to be varying within the range of €690-710 ($800.83-824) per tonne ex-works with “most reported indications clustering around €700–710 per tonne ex-works”.
This is when at the end of the last week sellers said that they were getting their first orders at €700 per tonne ex-works.
A source on sellers’ side said that, despite general demand situation leaving much to be desired, there are more buying intentions now than in the previous weeks.
Meanwhile, a buyer source said that freight problems and delays in delivery terms diverted customers’ interest from import material to domestic supply even more, which was already a case following the introduction of the Carbon Border Adjustment Mechanism and looming changes in safeguard system.
Fastmarkets’ daily steel hot-rolled coil index, domestic, exw Northern Europe was €701.46 ($814.14) per tonne on Monday, up by €1.14 per tonne from €700.00 per tonne on March 6.
The index was up by €8.96 per tonne week on week and by €48.13 per tonne month on month.
Similar tendency was noted in the Italian market, with workable level gradually moving from €680 per tonne ex-works to €680-700 per tonne ex-works.
“In Southern Europe, €700 per tonne base is starting to be established in new deals, as US-Iran conflict impact on freight costs and logistics along with tighter safeguard measures from July 1, 2026, reduces interest in imports,” a buyer source said.
Fastmarkets’ daily steel hot-rolled coil index domestic, exw Italy was calculated at €685 per tonne ex-works on Monday, up by €4.17 per tonne from €680.00 per tonne on March 6.
The index was also up by €8.75 per tonne week on week and by €40.00 per tonne month on month.
