European domestic hot-rolled coil prices edged lower on Tuesday July 28, with the summer holiday lull damping trading activity across the region.
A buyer source from Germany said that this week the market has become even quieter than last week.
Mills in Northern Europe were said to be looking for €700-730 ($797-831) per tonne ex-works for September and October-delivery material, with customers resisting prices at the upper end of the range.
Estimates of tradeable levels varied within the range of €700-710 per tonne ex-works, with no fresh transactions heard during the day.
Fastmarkets’ daily steel hot-rolled coil index domestic, exw Northern Europe, was calculated at €708.75 per tonne on July 28, down by €3.75 per tonne from €712.50 per tonne on Monday July 27.
The index was down by €3.54 per tonne week on week but up by €26.25 per tonne month on month.
In Italy, offers were reported within the range of €710-715 per tonne ex-works, with tradeable levels estimated at €700-715 per tonne ex-works.
The corresponding Fastmarkets daily steel hot-rolled coil index domestic, exw Italy, was €709.69 per tonne on Tuesday July 28, up by €0.31 per tonne from €709.38 per tonne on July 27.
The index was up by €7.19 per tonne week on week and up by €35.92 per tonne month on month.
