European hot-rolled coil (HRC) prices have edged higher, supported by an apparent increase in buying activity. However, slow consumption continues to raise questions about the sustainability of this uptrend. As of October 11, the Fastmarkets daily steel HRC index for Northern Europe was calculated at €549.58 per tonne, up slightly from the previous day.
Despite this increase, prices remain below mill target levels, with achievable values estimated at €540-550 per tonne ex-works. Market participants are cautious, noting that while the lowest prices may have passed, the overall demand remains limited.
