The Italian rolled products market remains weak after the summer holidays, with virtually no contracts signed since the sector resumed operations this week, according to Kallanish.
In July, all buyers of hot-rolled coils in Italy and Spain purchased large volumes of rolled products in Asia, in particular, in Indonesia - at a price of 450-470 euros per ton cfr (527-550 dollars per ton). Buyers from Southern Europe also continued to purchase products from manufacturers from Turkey and North Africa at the end of July and in August at a price of 460-515 euros per ton with payment of cfr duties.
It is reported that Turkish factories sold large volumes to Italy and Spain during the summer, replenishing their order portfolios. By the end of July and the beginning of August, they raised prices, offering 500 euros per ton cfr and above.
Currently, with Turkey's quota for HRC in the EU for the third quarter exhausted, service centers are mostly refraining from importing, except for selective purchases of cold-rolled coils from Asia at competitive prices.
European prices are expected to rise in the coming weeks, driven by the impact of CBAM and the replacement of protective measures, the latter of which the European Commission may put into effect earlier than July 2026. "Prices in Europe will rise, but slowly and painfully," the trader notes. Large volumes of raw materials are currently arriving at ports and will continue to arrive, which is likely to cause congestion in the near future.
European manufacturers will probably need to sell, but large buyers are not expected to purchase, as they have already been purchased on the import market during the summer. As a result, they will be almost non-existent on the EU market in September.
Several Kallanish service centers have indicated that they also have no plans to buy for at least the next three weeks. One source says he may hold off on purchases until the end of October, while another expects purchases to be minimal in order to fill small gaps in the warehouse. Overall, buyers expect European manufacturers to receive only small orders in September and October.
Prices in Europe are expected to continue to rise. Two sources predict that by the beginning of October, this level will reach about 600 euros per ton. However, a large service center notes that much will depend on the costs of CBAM and the prices of Asian factories. In his opinion, European producers should not overestimate prices, as creating a significant gap with the level of imports may reduce demand.
While the Italian market was even quieter than usual in August, several deals took place in Northern Europe. "Over the past few years, Europe has become Italianized. August has become a holiday season
