European hot-rolled coil prices remain under pressure due to weak demand, aggressive import offers, and buyer pessimism. Mills continue to target €620-630 per tonne ex-works, but buyers anticipate further declines into summer before any potential recovery.
Despite stable real consumption, apparent demand remains low as buyers delay procurement, hoping for lower prices. Some market participants recall similar bearish sentiment in 2024, which reversed faster than expected.
Import offers remain competitive, with Indonesian-origin HRC available below €500 per tonne CFR Southern Europe. However, buyers remain cautious due to potential antidumping measures and upcoming changes in the EU’s Carbon Border Adjustment Mechanism.
