The stagnation in the European hot-rolled market continued on Monday, September 8, with prices held down by an offer-to-offer discrepancy accounting for trading conditions, sources told Fastmarkets.
Fastmarkets’ calculation of the daily steel index HRC, domestic, pickup of Northern Europe Euro 577.08 ($676.04) per ton on Monday, down by €1.25 per ton from €578.33 per ton on Friday, September 5.
The Nordic index declined by €2.09 per tonne week-on-week, but that is down by €1.45 per tonne compared to the previous month.
Buyers in Germany and the Benelux region estimated commodity values at €570-580 per tonne on a free-of-charge basis, with transactions reported within the range.
Suppliers, according to the HRC, offer for October-November delivery of €600-630 per ton of Ex-work.
Buyer sources continued to be confused by the better deals, stating that the current price recovery was "fragile" and lacked support from demand, so it was therefore unsustainable.
"(5:0 prices) are fragile; there is still no intention to replenish," one German buyer told Fastmarkets.
Another source the buyer suggested there was room for domestic prices to increase slightly in the fourth quarter, given the looming uncertainty surrounding the Carbon Boundary Adjustment Mechanism (CBAM) and new protective measures that limit import appetite.
"European factories will have the opportunity to increase domestic prices if they don't aim too high, in which case buyers can still weigh all the risks and opt for imports," a second buyer said.
Consultations on CBAM will last until September 25, and the final version of the document should be published during the fourth quarter of 2025, Fastmarkets reports.
Meanwhile, in Southern Europe, Fastmarkets daily rate of steel HRC, home, EXW Italy conditions is calculated at €550.42 per tonne on Monday, down by €0.31 per tonne from €550.73 per tonne on Friday.
The index rose by €6.67 per tonne week-on-week, but by €0.83 per tonne compared to the previous month.
The Italian HRC market was still quiet after the holidays, with minimal trading reported.
Local buyers purchased a sufficient number of coils from foreign and domestic suppliers in late July/early August and therefore were in no hurry to replenish
Buyers estimated the achievable values at €540-550 per ton of Ex-work. Some buyers gave a lower estimate of 530-540 euros per ton from the factory, but suppliers claimed that they were not ready to sell for less than 540 euros per ton from the factory.
Import offers were limited, and European buyers were hesitant to buy Asian shipments due to the long delivery times (they were already arriving late). January 2026) and the associated risks of CBAM.
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