The European HRC market has quieted down amid the New Year holidays
On Monday, December 29, the European HRC market was quiet, with most players absent due to the end-of-year holidays. Many sources have reported that they will return to work after the first week of January.
As a result, no new offers were heard during the day.
Before the Christmas holidays, customers secured sufficient volumes for shipments in January and partially in February, while factories began offering rolls for delivery in March.
Sellers' expectations after the holidays were optimistic, driven by upcoming changes to import regulations, in particular the Carbon Emissions Control Mechanism at the Border (CBAM), which takes effect on January 1, 2026, and the introduction of a new protection system later this year.
The latest official offers for the supply of HRC in February/March from plants in Northern Europe were announced at a price of 630-670 euros (742-789 dollars) per ton from the factory or with delivery, but the latest deals and market value still fluctuated at the level of 620-630 euros per ton from the factory.
Amid a lull in the market, Fastmarkets calculated the daily HRC index for steel production in Northern Europe at 627.5 euros ($738.53) per ton on Wednesday, December 29, unchanged from Wednesday, December 24. The indicator increased by 1.25 euros per ton week-on-week and 12.5 euros per ton month-on-month
.The corresponding daily price index for Fastmarkets hot-rolled steel coils in the domestic market, exw in Italy, calculated on Monday at 623.12 euros per ton from the factory, has remained unchanged since Wednesday. The indicator increased by 3.12 euros per ton week-on-week and by 20.62 euros per ton on a monthly basis
.Proposals for delivery in February at a price of 610-640 euros per ton from the factory, depending on the supplier, were heard.
The latest estimates of buyers regarding acceptable prices amounted to 610-620 euros per ton from the factory before Christmas.
Author: Vlada Novokreschenova
Fastmarkets.com