European hot-rolled coil (HRC) prices remained largely unchanged on November 19, 2024, amid limited market activity. First-tier suppliers maintained their higher offers for the first quarter of 2025, despite patchy demand. December-delivery HRC was mostly sold out at first-tier suppliers, with bids for January delivery reported at €560-580 per tonne ex-works. Offers for first-quarter delivery ranged from €600-620 per tonne ex-works.
In Northern Europe, the daily steel HRC index was calculated at €562.67 per tonne, a slight decrease from the previous day but an increase week-on-week and month-on-month. In Southern Europe, the index was €557.32 per tonne, showing similar trends.
Market participants noted that weak automotive demand and high inventories were contributing to the difficulty in achieving higher HRC prices. Despite mills announcing increased prices for the first quarter of 2025, the lack of real demand and fierce competition among steel service centers were significant obstacles to a price rebound.
