EUROPE HRC: Prices remain high despite slower activity, competitive imports

Domestic prices for hot-rolled coil across Europe have remained high despite a slowdown in demand and competitive import offers, sources told Fastmarkets on Wednesday July 14.

Buyers were reported to be largely inactive in the market due to the effect of the seasonal slowdown. They have also been holding back from acquiring substantial volumes over the past few weeks, mainly due to still-high prices, long lead times, sufficient stocks, full credit lines and uncertainty about the price trend.
In the meantime, Northern European steelmakers and some producers in Italy were reported to be holding back from making offers due to good order books and the start of the summer slowdown. As a result, it was mainly mills from Central Europe that were able to offer HRC with shorter lead times and even third-quarter delivery.

Mills in the North and South of Europe have been offering fourth-quarter-rolling HRC. Some steelmakers claimed to...

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