European hot-rolled coil mills have reduced their offers, with leading suppliers lowering prices to around €650 per tonne ex-works from €700 per tonne. First-tier mills in Northern Europe are offering July-delivery coil at €640-650 per tonne ex-works or delivered, while Italy-origin coil is being offered to Germany at similar levels.
Despite the price reductions, buyers are holding back, citing uncertainty in the market and upcoming summer holidays. Some suppliers are selling below breakeven costs to generate cash flow, but trading remains slow.
Import offers from Turkey, Indonesia, and Algeria are adding further pressure, with Turkish HRC available at €550-560 per tonne duty paid, and Indonesian mills offering at €520-530 per tonne CFR.
