European hot-rolled coil (HRC) prices continue to face downward pressure due to oversupply and weak demand. Despite recent EU import restrictions, the market has not stabilized, with prices still declining. As the summer holiday period ends, there has been no significant rebound in trading or prices.
Mills remain cautious, with some suppliers dropping prices to secure orders. Buyers are also hesitant, waiting for prices to fall further before making purchases. Recent transactions have been reported at €580-590 per tonne ex-works in Northern Europe, with some suppliers aiming for higher prices but finding limited success.
The oversupply and subdued demand from key end-user sectors remain the primary factors dragging down domestic HRC prices. Additionally, recent price drops in China have contributed to weak market sentiment globally.
