European hot-rolled steel coil prices have been mostly flat since Monday, September 1, with remaining buyers wary of a new round of price increases amid insufficient demand, Fastmarkets reported.
The first day after the summer holidays was quiet for the European HRC market, according to sources.
Sellers and buyers were seen gradually returning to the market, but trading was still subdued as participants were still assessing the situation.
Integrated producers in Northern Europe have been heard to be targeting €600-630 ($701-736) per ton of Ex-work for October-November.
At the same time, most sources of the buyer estimated the possible prices to be no higher than €580 per ton of Ex-work on Monday.
"The milling cutters are asking for a price increase[for HRC], but there will not be large volumes[of HRC]ordered because buyers have already bought with rising sales in the third quarter and there is no urgent need to restock," a buyer in Germany said.
The buyer added that the absence of new imports could support the price increase for PC due in the first quarter of 2026.
Said:"It is unclear from[the]implementation of[the]carbon Boundary Adjustment mechanism (CBAM) that we have basically halted import activities at this point," the second buyer said.
Fastmarkets’ calculation of the daily steel index HRC, domestic, pickup of Northern European Euro 579.17 per ton on Monday, up by €0.84 per ton from €578.33 per ton on Friday.
The Nordic index was €5.42 per tonne week-on-week and €19.17 month-on-month.
. Meanwhile, the Fastmarkets index of daily steel HRC, home, EXW conditions in Italy at €543.75 per tonne on Monday, up by €2.08 per tonne from €541.67 on Friday.
The Italian index rose by €2.92 per tonne week-on-week and by €15.42 per tonne compared to the previous month.
The Italian market was said to be restarting slowly after the summer break.
Estimates of achievable prices were released at €540-550 per ton of Ex-work, while target offers from integrated factories and re-rollers in Italy for October-reel shipping were heard at €570-580 per ton of Ex-work.
The European camp has heard that Italy's HRC offers 600 euros per ton delivered.
Julia Bolotova
Fastmarkets.com
