Hot Rolled Coil (HRC) prices decrease across Europe, with notable declines in Southern Europe. In Spain, HRC prices stood at EUR 660 this week, marking a significant drop of EUR 70 from EUR 730 recorded on April 22nd. Similarly, the Italian HRC market experienced a decrease of EUR 10, settling at EUR 625 for the current week.
Industry sources indicate a divergence in perspectives between producers seeking higher prices and customers opting to stockpile inventory. Despite the recent price drops, sources anticipate a stabilization in prices without further declines, projecting an upward trend in the near future.
In Northern Europe, specifically in Germany, HRC prices also saw a reduction of EUR 10 this week, reaching EUR 625. Forecasts suggest a gradual uptick in HRC prices in this region, with end-user demand remaining subdued, limiting the scope for significant price hikes. However, given the absence of viable import alternatives, incremental price increases ranging from EUR 10 to EUR 20 per tonne are deemed plausible by industry sources.
