European hot-rolled coil prices remained stable amid weak demand, with buyers resisting higher offers. Mills in Northern Europe continued to offer HRC at €680-700 per tonne ex-works for June-July rolling, but buyers assessed tradable values at €640-660 per tonne ex-works.
In Italy, domestic HRC prices were calculated at €623 per tonne ex-works, with offers ranging between €620-640 per tonne ex-works. Some bids were heard as low as €600 per tonne ex-works, reflecting sluggish end-user demand.
Market participants are awaiting the Made in Steel trade fair in Milan for clearer price direction. Meanwhile, lower import offers have emerged, with Malaysian HRC offered at €500 per tonne CFR to Italy and Indonesian HRC at €520-530 per tonne CFR.
