European hot-rolled coil (HRC) prices remained steady in a quiet market as of December 13, 2024. Despite a slight increase in sales ahead of the winter holidays, prices stayed below target offers. The market saw offers for HRC with lead times in the first quarter of 2025 ranging from €570 to €600 per tonne ex-works in Northern Europe.
However, no contracts starting with a ‘6’ were reported. The market mood remains depressed, particularly in Germany, where many companies are announcing layoffs. Fierce competition among steel service centers due to high inventories and cash flow needs is also contributing to the stagnant prices.