Buying activity in the European hot-rolled coil (HRC) market remained sparse as of June 23, with weak demand and geopolitical uncertainty weighing on sentiment.
In Northern Europe, domestic offers ranged between €570–590 per tonne ex-works, but interest was minimal. The regional daily index showed little movement from the previous week.
Italian transactions showed similar softness, with some bookings at €550 per tonne ex-works, even as mills aimed for €560–570. Bids as low as €530 were reportedly being floated.
Import pressure persisted. Indonesian HRC was offered at €470–480 per tonne CFR Italy, with actual achievable prices said to be €460–470. Turkish and Vietnamese coil prices remained between €510–540 per tonne CFR, while Algerian offers fell below €500 per tonne.
Ongoing geopolitical tensions in the Middle East, particularly those involving Israel and Iran, continued to affect buying confidence, raising concerns about shipping disruptions and rising input costs.
