European hot-rolled coil buyers are showing increased reluctance to engage in trading due to subdued demand and competitive import offers. As of mid-June, integrated mills in Northern Europe were offering July-delivery HRC at €600–620 per tonne ex-works, but bids were generally lower, around €570–590.
The daily HRC index in Northern Europe slipped to €593.33 per tonne, down €7.50 week-on-week and €45.42 month-on-month. In Italy, domestic offers stood at €570–585 per tonne ex-works, with some small-volume deals reported at €560–575. A few suppliers reportedly sold at €535–555 per tonne ex-works, netting back to €580–585 delivered.
Import offers remained aggressive, with Indonesian HRC quoted at €470–480 per tonne CFR Italy and Turkish coil at €520–540 CFR duty paid.
Market sentiment remains bearish, with buyers citing sufficient stock levels and expectations of further price declines over the summer.
