European hot-rolled coil (HRC) prices remained largely unchanged as of December 10, 2024, amid persistently weak trading. Buyers are primarily focused on destocking ahead of the year-end, with restocking activity yet to gain momentum. Offers for January-delivery HRC from integrated mills in Central Europe ranged from €570 to €600 per tonne ex-works, but buyers found these prices unworkable due to weak consumption and oversupply.
In Northern Europe, the daily steel HRC index was calculated at €560.83 per tonne, showing minor fluctuations. Similarly, in Southern Europe, the daily steel HRC index in Italy was €559.00 per tonne. Negotiations for long-term contracts with automotive original equipment manufacturers (OEMs) are ongoing, with buyers seeking significant discounts for 2025 contracts.
Overall, the market outlook remains cautious, with no major changes expected in the coming weeks.