On April 16, prices for hot-rolled coils in the Southern European domestic market declined amid calmer market conditions ahead of the Easter holidays.
Market participants pointed to continued uncertainty among buyers across the value chain, sharing expectations for short-term stability during the Easter holidays.
"There are many options for the commercial grade HRC, but there is no demand for it, as all the big clients are so insecure," said one Southern European trader.
"Many traders behave aggressively, which makes it difficult to sell, but in any case, no one is aiming for large volumes," the trader added.
The distributor indicated similar levels of indecision regarding larger customer requests.
"Buyers remain cautious due to uncertainty about the availability of quotas, ongoing market volatility and weak demand, which are hampering bookings." the distributor said.
" Domestic factories offer shorter production times than imported ones, but some exporters from Indonesia offer additional discounts.[However,]we don't see any major import offers in the port of Antwerp," the source added.
In addition, forecasts for Europe remain largely mixed, while market sources continue to cite a continuing trend towards increased supplies - rather, this is caused by higher prices, rather than any noticeable change in the fundamentals of demand.
On April 16, Platts estimated HRC oil prices in Northwestern Europe at a stable level of 650 euros per ton for delivery to the Ruhr, and in Southern Europe at 625 euros per ton for delivery to Italy, down 5 euros per ton from the previous day.
Platts estimated imports of HRC in Northern Europe at 545 euros per ton CIF in Antwerp, stable every day, and in Southern Europe at 535 euros per ton CIF in Italy.
