The European market for hot-rolled coil (HRC) has maintained a steady price point, despite some steel mills offering discounts to customers. This stability comes as mills aim to fill their production lines in preparation for the summer season. Notably, mills like ArcelorMittal have been more aggressive in their approach, offering discounts to ensure their orderbooks are filled.
Prices for European HRC are currently workable around €600-610/mt ex-works, with one mill recently selling a large volume at €600/mt ex-works Ruhr. While some mills have offered discounts, others have remained firm on higher prices, with one mill holding steady at €650-670/mt ex-works Ruhr.
Market fundamentals have not seen significant changes, with low activity and poor demand persisting. The construction and automotive sectors, in particular, have not shown robust growth. Despite this, the market is considered to be at its lowest point, with demand still lagging.
Platts assessed Northwest European HRC stable at €635/mt on June 21, with buying interest for carbon-accounted HRC remaining muted. Offers for a premium on carbon accounted HRC were heard at €100-150/mt for variable CO2 emission levels and scopes, with Platts assessing the carbon-accounted premium for HRC in Europe at €125/mt on June 21.
