Domestic prices for European hot-rolled coil remained flat as of August 23, with the market ending on a quiet note. Market sources indicated no signs of recovery for the next few weeks. One distributor noted minimal movement in the market, while another highlighted the weakness in domestic markets.
Despite the overall flat sentiment, some mills are optimistic about potential price increases in October, anticipating a rise of €50 or more. For any price recovery to occur, mills must continue reducing production and lowering capacities to create space for future inquiries.
Current prices in Northwest Europe were stable at €595 per tonne ex-works Ruhr, with tradable values reported between €590-610 per tonne. In Southern Europe, prices were also stable at €595 per tonne ex-works Italy.
