Prices for European hot-rolled coil (HRC) have reached their breakeven point, with negative sentiment prevailing among market participants. Fastmarkets reported that the daily steel HRC index for Northern Europe was calculated at €602.50 per tonne on August 22, down from €607.00 the previous day. This marks a decrease of €7.88 per tonne week on week and €26.50 per tonne month on month.
Mills in Northern Europe are offering material for October/early November delivery at €630-640 per tonne ex-works, but buyers consider these prices too high, estimating the workable market level at €580-600 per tonne ex-works. The market remains weak, with no significant restocking activity and continued soft demand from key steel-consuming sectors.
