European hot-rolled coil (HRC) prices remained stable to slightly weaker in a slow summer market. Concerns about real demand have cast doubt on a potential post-holiday price rebound. Fastmarkets calculated the daily steel hot-rolled coil index domestic, ex-works Northern Europe at €627.75 per tonne on Wednesday, down by €3.50 per tonne from the previous day.
Mills in the region offered HRC with lead times of around four to five weeks, indicating weak order books. Official offers from suppliers in Germany and the Benelux region were heard at €640-650 per tonne ex-works or delivered. Buyer estimations of tradeable prices for HRC in the region were €620-630 per tonne ex-works.
Trading in Northern Europe was persistently slow, partially due to the vacation season. Despite talk of a potential post-summer price rise, industry sources were largely skeptical about a price rebound, considering slow end-user demand and low order intake from key sectors.
