Prices for hot-rolled steel in the UK remained stable on April 3, as sources pointed to an increase in supply overall, but limited spot requests and caution amid an uncertain geopolitical situation. . . . This week, the supply from European factories increased further, reaching 570-595 pounds per ton year-on-year in the West Midlands. Imports from Turkey and South Korea were reportedly slightly lower at 535-550 pounds per ton per day in the West Midlands, but delivery times were slightly shortened. Sources said that due to the current dynamics of demand, a significant surplus of raw materials remains.
"There are a lot of new prices that don't really make sense," said a source at the service center. "The demand from buyers has really slowed down, we are also not buying from traders at the moment due to the risks associated with quotas."
Other market participants pointed to additional uncertainty due to the volatility of the US dollar, which further limits liquidity in the import market.
One customer reported increased confidence in industrial applications, but generally referred to the typically negative market sentiment in general, as demand in the processing industries remained largely weak.
