European hot-rolled steel coil prices dropped slightly on Wednesday, August 13, with prices still below the target supply, sources told Fastmarkets.
Mills was trying to raise their October price range, sources said, looking at price gains in the order of $590-610 per ton of Ex-work.
But market participants estimated the feasible level for HRC at about 560-570 per ton for pickup on Wednesday.
Factors affecting liquidity include the current summer holiday slowdown and European factories awaiting new regulatory changes due to be implemented in early 2026, the sources said.
"Integrated factories are trying to push[for higher]hotels in the third quarter of this year, but I haven't seen any desire to buy from those[higher]prices," a distributor source told Fastmarkets.
"Milling cutters are looking to see what happens to imports when the[EU Carbon Border Adjustment Mechanism](CBAM) comes into effect in January, especially regarding imports from China," the source told addedd.
Fastmarkets’ calculation of the daily steel index HRC, domestic, Northern European pickup Euro 569.33 per ton on August 13, down by €1.68 per ton from €571.01 per ton on August 12.
The Nordic index was €1.83 per tonne week-on-week and by €23.08 per tonne compared to the previous month.
And the prices of overseas coils have increased slightly over the past week.
Weekly price analysis
Fastmarkets per hot-rolled roll, import, CFR shipments to the main port of Northern Europe, Euro 465-510 per ton on Wednesday, a reduction from €460-510 per ton last week.
In Italy, meanwhile, trading activity was close to non-existent amid the ongoing holiday season.
Whether the target offers of €540-550 per tonne of Ex-work with local suppliers at the end of July – ahead of the summer closure – will be sealed in the offers and so far this month, the buyer estimates possible prices have ranged from €520 per tonne and €540 per tonne of Ex-work.
Some sources, however, suggested that local suppliers might even reconsider their offers above, given rising prices in Northern Europe and rising prices for imported HPS.
"In Italy, the holiday season is in full swing and[HRC]is unlikely to be traded. We will see what the price[for HRC]will be in September," said a source from among the buyers.
The daily price index for Fastmarkets hot-rolled steel, domestic, exw in Italy, was 536.67 euros per ton on Wednesday, down 3.33 euros per ton from 540.00 euros per ton on Tuesday.
The Italian index, however, rose by 1.67 euros per tonne week-on-week and by 10.84 euros per tonne month-on-month.
Prices for overseas rolls also rose during the week until Wednesday.
Fast Food Markets’ weekly price assessment for hot-rolled steel
