The European hot-rolled coil (HRC) market remains quiet, with buyers holding back from making deals amid continued holidays across the region. Offers from mills earlier this week ranged between €680-700 per tonne ex-works, but buyers assessed workable prices at €650-660 per tonne ex-works.
Import offers from Indonesia were reported at €600 per tonne DDP and slightly higher, but these failed to attract interest. In Italy, HRC offers varied between €620-640 per tonne ex-works, with workable levels estimated at €620-630 per tonne ex-works.
Market participants are adopting a "wait-and-see" approach, with many awaiting the Made in Steel event in Milan from May 6-8 for clearer market direction.
