Participants talked of minimal spot activity following the Easter holidays, with some suggesting the industry was still experiencing a “post-holiday hangover.” While offers from European mills were largely unchanged, hovering around GBP550/mt DDP West Midlands, buyers’ tradable values were heard at GBP530-535/mt.
“The market is just flat,” one trader said. “Prices seem to have bottomed out, but there’s no sign of the usual bounce-back you’d expect after that.”
Import activity also remained subdued, with sources citing a lack of urgency to commit, given ongoing trade policy uncertainty and thin demand.
“People are just watching and waiting — no one wants to move until there’s more clarity, especially with the TRA decisions still pending,” the trader noted.
The weaker dollar has made some non-EU import offers more attractive, but concerns around quotas and safeguard measures were still dampening appetite.
Platts assessed UK HRC at GBP535/mt DDP West Midlands, up GBP5 week over week.
