European hot-rolled coil (HRC) prices have held steady despite limited trading activity, as market participants await clarity on the European Union's ongoing safeguard review. While inquiries for HRC have increased in Northern Europe, buyers remain cautious, avoiding large-scale restocking until the safeguard measures are finalized.
Producers in Northern Europe have reported strong order books, with official offers ranging between €640-660 per tonne ex-works. However, buyers estimate workable prices closer to €620-630 per tonne. In Southern Europe, prices have also remained stable, with offers for April-May delivery HRC at €630-650 per tonne ex-works.
The safeguard review, expected to conclude by the end of March, has created uncertainty in the market, influencing both domestic and imported HRC trading dynamics. Market participants are closely monitoring developments as they navigate this period of limited activity and cautious sentiment.
