The global market for hot-rolled coils (HRC) has witnessed a decline in prices during the month of June. This trend is particularly noticeable in the European market, where steelmakers are closely monitoring government actions and aligning with global trends. The decrease in HRC prices is attributed to a combination of factors, including low demand and high competition in the markets.
In Western Europe, prices for hot-rolled steel remained relatively stable at €700-750 per tonne during the first week of June. However, the Italian market saw a 2.8% drop in the cost of hot-rolled steel, bringing prices down to €670-690 per tonne. By mid-June, the price further dipped to €655 per tonne.
The falling prices are a reflection of the current market sentiment, which has been affected by uncertainties in the Chinese market and negative macroeconomic factors. The slowdown in product trade and purchases is a direct result of these prevailing conditions. As steelmakers in China await further governmental steps and Indian enterprises consider the global trends, the HRC market continues to adapt to the evolving economic landscape.
