On Monday, March 16, Fastmarkets reported that weak demand restrained price growth in the domestic European market of hot-rolled coils.
Market participants unanimously reported a lack of interest from buyers amid ample inventory, while factories were also well booked.
"Demand is low right now, but that's mainly because buyers already have enough materials to cover their needs for the future, and factories have enough orders, so no one needs to rush," said a buyer from the Benelux region.
Sellers and buyers in Northern Europe reported that although the market leader made initial sales last week at 720-730 euros ($822-833) per tonne from the factory, the 700 euro per tonne level from the factory is still more applicable for broader trade.
On March 16, the daily price index for Fastmarkets hot-rolled steel for sale in Northern Europe was 705.63 euros ($805.61) per ton, which is 7.49 euros less than 713.57 euros on March 13.
The decline in the index is not a sign of a reversal of the market trend, but rather the result of a lack of new deals at higher price levels. The indicator increased by 4.17 euros per ton week-on-week and by 45.63 euros per ton month-on-month
.Sellers from Italy offer rolls for delivery in May-June at a price of 700 euros per ton from the factory. However, according to recent estimates, reasonable prices were 680-690 euros per ton from the factory.
Fastmarkets' daily hot-rolled steel roll price index in the domestic market, exw in Italy, was estimated at 694 euros per ton on March 16, up 1.5 euros from 692.50 euros per ton from the factory on March 13.
The indicator increased by 9 euros per ton week-on-week and by 42.4 euros per ton month-on-month.
Market participants reported that buyers are becoming more cautious about imports, fearing that changes in transportation routes, especially for materials shipped from Asia, could lead to delays. They are concerned that the shipments may not arrive before the new protective measures come into force in July 2026.
"Bid trading houses are not very interested in expanding their business as record importers," said a representative of a large trading company.
Another trader noted that some Asian factories are currently offering goods on FOB terms, unwilling to incur the additional costs and risks associated with rapidly changing shipping tariffs caused by the conflict between the United States and Iran.
It was reported that HC from India and Turkey can be purchased at a price of 560-580 euros per ton of CFR, including anti-dumping duties, using Turkish material.
It is reported that the offers from Asia for the HRC, which is scheduled to be delivered in May–June, are
