European hot-rolled steel market sentiment has been negative, and Mills is trying to maintain current price levels despite insufficient demand, Fastmarkets heard on Tuesday, May 6.
In Northern Europe, HRC transactions were reported to be no higher than €655 ($743) per ton of Ex-work for June-July coil shipments, and the latter reported offers that were at least €680 per ton of Ex-work.
"Demand[for HRC]has been stable at a low level for quite some time; consumption traditionally dips in June and July, so I don't think there is a chance of an increase in[HRC]prices from low consumption," a source told Fastmarkets.
At the same time, the factories were not ready to step back, given the looming lengthy negotiations with end-users for the second half of 2025.
"What will be a[terrible decision], a drop in spot prices[for HRC], so that's it," the source of the supplier told Fastmarkets.
Several sources told Fastmarkets on fields made at the steel fair, held in Milan on May 6-8, that factories were targeting €800 per tonne for long-term contracts with automakers for the second half of 2025, up from €700-750 per tonne in the first half.
As a result, Fastmarkets daily calculation Julia Bolotova, Marina Shulga
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