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Steel & Metal
- Italy -

Sluggish European HRC Market Sees Prices Hold Steady

European hot-rolled coil (HRC) prices remained largely stable in a slow market during the week of May 10, 2024. Trading activity was muted as distributors avoided building inventories due to uncertainty about price sustainability. Additionally, holidays in some European countries further slowed demand.

In Northwest Europe, Platts assessed domestic HRC prices as stable at €635/mt ex-works Ruhr on May 10. Tradable values were reported at €630-650/mt ex-works Ruhr, with the majority at €630-640/mt ex-works Ruhr. Mills were offering June-July delivery material at €640-670/mt ex-works Ruhr.

In Southern Europe, Platts assessed domestic HRC prices up by €5/mt to €630/mt ex-works Italy on May 10, based on deals and tradable values reported at the equivalent of €630/mt ex-works Italy.While some declines in import offers from Asia were noted at €600/mt CIF Italy, buyers believed they could achieve prices of €570-580/mt CIF Italy, which did not support market sentiment.

Overall, the European HRC market remained sluggish, with distributors limiting restocking to minimum levels due to price uncertainty.

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