Domestic hot-rolled coil prices in Europe are gradually rising, with steelmakers pushing for higher prices in negotiations for Q1 2027 deliveries. Spot trading remains subdued because of the limited volume of material available for delivery through the end of 2026, sources told Fastmarkets on Wednesday, November 4.
Spot activity in Italy was low, with producers largely focused on concluding annual contracts for Q1 2027.
A representative of a local steel mill said the company had already completed its sales for Q4 2026. The latest deals were concluded at around €740 per tonne ex-works.
The same source said the mill intended to hold its minimum price for Q1 2027 deliveries at €750 per tonne ex-works.
“The focus of Q1 negotiations right now is concluding annual contracts, mostly indexed. Only after that do we expect some spot activity,” the producer’s representative said.
No other price indications emerged during the day. On Tuesday, a buyer reported an offer at €760 per tonne delivered. After deducting delivery costs of €15–20 per tonne, this equates to €740–745 per tonne ex-works.
The same source noted that workable prices were mostly in the range of €750–770 per tonne delivered, or around €730–755 per tonne ex-works.
At the end of the day, Fastmarkets’ daily domestic Italian hot-rolled coil index, ex-works, was €745.50 per tonne. This was €0.50 below Tuesday, November 3, when it stood at €746 per tonne.
The index increased by €3.87 per tonne week on week and by €3 per tonne month on month.
In Northern Europe, mills are pushing for higher prices amid strong order books and limited imports, sources said. Buyers, however, are reluctant to accept the new terms because demand is relatively weak.
On Wednesday, a buyer cited a workable price of €780 per tonne delivered. After deducting delivery costs of €15–20 per tonne, this equates to €760–765 per tonne ex-works.
The same source said offers were in the range of €780–800 per tonne delivered, or about €760–785 per tonne ex-works.
The buyer added that they had previously purchased volumes at lower prices and would now need two to three weeks to assess how much more material they would need for Q1 2027.
No new price indications emerged during the day because of low activity. Sources had previously said that producers in the region were also focused on long-term contracts and were seeking increases of €100–150 per tonne in the first half of 2027 compared with levels agreed for the second half of 2026.
On Tuesday, two buyers cited a workable range of €750–760 per tonne ex-works.
Another buyer reported a workable level of €770–780 per tonne ex-works, as well as offers for January–March production at €800–830 per tonne delivered, equivalent to €780–815 per tonne ex-works.
These offers were not included in the index calculation: the upper end of the range was for February- and March-produced material, while material with an earlier production date was available.
Due to a lack of new data, Tuesday’s prices were used in Wednesday’s index calculation.
As a result, Fastmarkets’ daily domestic Northern European hot-rolled coil index, ex-works, was €764 per tonne on Wednesday, November 4. This was €2.33 above Tuesday, November 3, when it stood at €761.67 per tonne.
The index increased by €12.75 per tonne week on week and by €20.67 per tonne month on month.
Vlasta Novokreshchenova in Dnipro, Ukraine, contributed to this article.
Author: Ivelina Nikolova
fastmarkets.com
