Domestic hot-rolled coil (HRC) prices in Northern Europe fell to their lowest level since December 2020, reaching €566.25 per tonne on Friday, September 13. This decline is attributed to oversupply and weak demand, with the market experiencing a persistent downtrend since early September. Trading activity remained slow as distributors and steel service centers refrained from restocking due to continued weak end-user demand and expectations of further price drops.
In Germany, offers were reported at €570-580 per tonne ex-works, while in the Benelux area, one integrated mill maintained offers at €600 per tonne ex-works. Some transactions were recorded at €560-570 per tonne ex-works, with special deals for large volumes going as low as €530-540 per tonne ex-works.
The Southern European market also saw a decline, with the daily steel hot-rolled coil index in Italy calculated at €570.00 per tonne on the same day. The market is expected to remain under pressure due to poor end-user demand, oversupply, and competition from imports.
