Hot-rolled coil (HRC) prices in Northern Europe rose on Wednesday, October 28, amid limited supply through the end of the year. In Italy, prices edged down as weak demand and production problems at local steel mills dampened market activity, sources told Fastmarkets.
In Northern Europe, buyer bids on Wednesday were €730–745 per tonne ex-works.
According to a seller, deals for material for December delivery were concluded at €740–755 per tonne ex-works. Another steel mill was reportedly offering HRC at €800 per tonne delivered, equivalent to €780–785 per tonne ex-works. However, market participants considered this level unrealistic under current conditions.
A buyer said that major producers were offering material at €760 per tonne ex-works.
A day earlier, it was reported that regional steel mills had largely sold out their 2026 production volumes and were focusing on deliveries in January 2027. Supply through the end of the year was also limited by scheduled maintenance in December, which will reduce the number of working days.
Despite weak demand, market participants noted that safeguard measures introduced in July had supported local mills’ order books. The reduction in import quotas had reportedly cut import volumes by 10–20% and increased buyers’ reliance on domestic supply, a Northern European buyer told Fastmarkets.
Fastmarkets’ daily index for domestically produced hot-rolled coil, ex-works Northern Europe, was €751.25 per tonne on Wednesday, October 28. This was €2.86 higher than Tuesday, October 27, when it stood at €748.39 per tonne.
The index rose by €4.58 per tonne over the week and by €6.25 over the month.
In Italy, activity in the domestic HRC market remained low despite limited availability of local material. Major producers continued to face production difficulties.
The former Ilva steel mill in Taranto, operated by Acciaierie d’Italia under extraordinary administration, remained one of the main sources of uncertainty for domestic supply. The plant’s blast furnace and coke batteries were being kept on hot blast until at least December 15. A decision on a possible restart was awaiting review by the Court of Cassation. The company had also begun a staff reduction process that will affect 40 of its 51 permanent managers. Binding offers from potential buyers must be submitted by November 8.
Metinvest’s Italian rolling operations were also still dealing with the effects of an equipment breakdown at Ferriera Valsider in August. The plant was temporarily not selling HRC on the spot market. As a result, sources said, Arvedi remained the main active domestic supplier.
Prices of €730–740 per tonne ex-works were considered workable, but negotiations were limited. Mills were offering remaining 2026 volumes at around €740 per tonne ex-works. Buyers said they were prepared to pay no more than €750 per tonne delivered, or approximately €730–735 per tonne ex-works.
HRC for rolling in January 2027 was offered at €760–780 per tonne delivered (€740–765 per tonne ex-works); initial bookings were reportedly made at these prices. However, a producer said buyers were reluctant to pay more than €750 per tonne ex-works for material for early next year because of weak demand from end users.
Amid limited supply in Italy and lower imports, Northern European mills were more actively offering their products in the local market. Delivered prices were €780–790 per tonne.
Fastmarkets’ daily index for domestically produced hot-rolled coil, ex-works Italy, was €741.63 per tonne on Wednesday, October 28. It fell by €2.87 over the day, from €744.50 per tonne on Tuesday, October 27.
The index decreased by €0.83 per tonne over the week and rose by €0.38 over the month.
In Central Europe, the latest assessments of workable prices remained at €745–760 per tonne ex-works at the start of the week.
Fastmarkets’ weekly assessment for domestically produced hot-rolled coil in Central Europe on October 28 therefore remained at €745–760 per tonne ex-works, unchanged week on week.
A buyer in Poland said previously booked material from Ukraine had not arrived, so companies were looking for replacements on the domestic market.
A leading market participant continued to offer hot-rolled coil in the region at €790–800 per tonne CPT, equivalent to €770–785 per tonne ex-works, sources said.
In Spain, ArcelorMittal was targeting levels close to those in Central Europe.
One buyer said major customers could be offered a discount of around €20 per tonne. In the buyer’s assessment, deals could be concluded at €770–780 per tonne delivered, or €750–765 per tonne ex-works.
Another buyer representative said they would not be surprised if the seller managed to secure a price of €800 per tonne ex-works in the near future. They also noted:
“Spain is starting to feel a shortage of material, as imports can only be cleared through customs in small batches.”
Fastmarkets’ weekly assessment for domestically produced hot-rolled coil, ex-works Spain, was €750–770 per tonne on October 28. The top end of the range was up from €750–760 per tonne on October 21.
Author: Hristo Rimpopov
fastmarkets.com