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Buyers await Made in Steel fair as mills push for hikes despite sluggish market
Hot-rolled coil (HRC) prices in Italy weakened on Wednesday, April 30, while Northern Europe’s HRC market remained stable amid subdued trading due to ongoing holidays and limited buyer activity. Market participants are now turning their attention to the Made in Steel trade fair in Milan (May 6–8) for clearer price signals.
Northern Europe: Mills Push Higher Despite Slow Trading
In Northern Europe, mill offers for June and July deliveries were reported in the €680–700/tonne ex-works range, with one integrated mill in Benelux “heavily overbooked” for Q2, extending lead times. However, re-rollers continued offering at lower prices around €650/tonne ex-works, and buyers pegged tradeable levels between €640–660.
Despite good order books and reduced import competition due to trade barriers, buyers remained skeptical about further increases.
“Demand is slow – everyone’s on holiday, so basically there is no movement,” a Dutch buyer said.
Fastmarkets' daily HRC index for Northern Europe was calculated at €654/tonne ex-works, marginally down from €654.74 the previous day but still up €2 week-on-week and €9 month-on-month.
Southern Europe: Italian Market Faces Downward Pressure
In Italy, weak demand was exacerbated by an extended holiday period. Fastmarkets’ Italian HRC index fell to €623.13/tonne, down €4.37 from Tuesday and nearly €2 week-on-week.
Offers varied widely, with one integrated mill quoting €640–650 delivered (€630–640 ex-works) and another selling June-delivery coil at €610–620 ex-works. Tradeable values ranged from €610–630, with some bids dipping as low as €600.
“There has been a quiet holiday period with limited demand for nearly three weeks. Now there will be pressure on mills to drop prices,” an Italian source stated.
Import Prices Fall but Quota Concerns Deter Buyers
Though import offers have dropped, EU buyers remain hesitant due to quota uncertainties and anti-dumping risks.
- Indonesia & Malaysia: €520–540/tonne CFR Italy
- India: €565–580/tonne CFR for June shipments
- Turkey: €550–570/tonne CFR, including EU duties
Despite widening price gaps, import interest remains subdued. All eyes are now on the Made in Steel fair for market direction.
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