European prices for steel hot-rolled coil (HRC) remained broadly stable on October 22, with limited market activity. Mills are holding back on volumes for the first quarter of next year, anticipating a price rebound. Offers for November-December delivery in Northern Europe were reported at €550-570 per tonne ex-works, with larger volumes achievable at €540 per tonne.
Despite subdued end-user demand, market sentiment is cautiously optimistic. Mills hope to achieve higher prices for HRC with lead times in the first quarter due to expected restocking and limited import availability. Some European mills might cut output in November-December to balance demand and supply. Fastmarkets calculated its daily steel HRC index, domestic, ex-works Northern Europe at €553.75 per tonne on October 22, slightly up from the previous day.
