European prices for hot-rolled coils remained virtually unchanged amid a lull in bidding; factories managed to achieve higher prices when concluding deals, but prices for HRC are still below the target offers for the fourth quarter, Fastmarkets sources said on Tuesday, August 19.
In North America. In Europe, target offers for HRC for October delivery were expected at the level of 590-610 euros (689-712 dollars) per ton from the plant, but no deals at these levels have yet been reported.
On August 19, several sources informed Fastmarkets that a leading European steel producer raised prices for HRC in October. For the third time in the last month, the price increased by 20 euros per ton to 630 euros per ton from the factory or with delivery in November. But the steel manufacturer in question did not respond to Fastmarkets' request for comment before publication.
"Most likely, they booked their facilities[for September-October]and insisted on raising prices for the last positions," suggested a source familiar with the situation.
However, German and Benelux suppliers managed to achieve higher prices during transactions in August, when the market recovered from the lowest levels recorded in July.
It is noteworthy that buyers estimated the market value at the level of 560-580 euros per ton at the manufacturing plant, while recently there have been reports of transactions within the specified range.
Some sources claimed that the price of 550 euros per ton from the factory is still achievable for large shipments from some suppliers.
"Producers managed to recover about 20-30 euros per ton from the minimum prices, which is a positive sign, but the increase is not due to improved demand — rather, some precautionary measures due to the expected decrease in imports," said a German buyer. "New imports are proposed for delivery in the first quarter of 2026, will be subject to CBAM[Carbon Border Adjustment Mechanism], as well as uncertainty surrounding the early replacement of protective measures."
In addition, the European Commission completed consultations on future trade measures to replace steel guarantees on Monday, August 18, with Yulia Bolotov
Fastmarkets.com
