According to the source, competition between European mills is likely to maintain price stability rather than support further price rises. Sources noted that mills may have to cut production to combat oversupply further depressing prices.
Platts assessed Northwest European HRC at Eur555/mt ex-works Ruhr on Oct. 23, stable on the day.
Offers were reported at Eur560-600/mt EXW Ruhr.
Tradable values were reported at Eur540-560/mt EXW Ruhr.
Platts assessed domestic HRC in Southern Europe at Eur550/mt EXW Italy, up Eur10 on the day.
Tradable values were reported at Eur540-580/mt EXW Italy. Offers were reported at Eur600 EXW Italy.
Anti-dumping investigations have led to weak import demand, as buy-side sources considered importing at current price levels increasingly risky. The four major exporting countries impacted by these investigations were Japan, Vietnam, India, and Egypt, according to an Italy-based service center source.
Platts assessed imported HRC in Northwest Europe at Eur520/mt CIF Antwerp, stable on the day.
Platts assessed imported HRC in Southern Europe at Eur535/mt CIF Italy, stable on the day.
Platts is part of S&P Global Commodity Insights.