Domestic UK hot-rolled coil (HRC) prices remained stable in the week leading up to August 22, despite weak demand and excessive supply. According to trade sources, this period marks the worst market conditions since 2018, with buyers anticipating further price decreases.

The price gap between Asian and European imports is widening, making Asian materials more attractive to customers despite longer lead times and higher freight costs.

Market participants expect these dynamics to persist until the first quarter of 2025, with buyers restocking only as needed to avoid inventory buildup. Current prices for UK HRC were assessed at GBP 570 per metric ton, delivered duty paid to the West Midlands.