The European steel market remains subdued in August due to the summer holiday period and weak demand. Market activity is expected to pick up as companies return to business from August 24.
EU import quotas, CBAM and fewer import options are expected to tighten supply in September, while producers are expected to push for price increases from September 1. However, weak demand, economic uncertainty and high energy costs are likely to remain key factors limiting price increases.
According to market sources, upward pressure on European HRC prices is expected to strengthen in September, although the increase is likely to remain controlled due to subdued demand.
As of August 18, the latest deals heard for October-delivery HRC in Northern Europe were concluded at EUR715–730/ton EXW at the end of the previous week.
According to market intelligence, this range remains workable, while producer offers are currently heard at EUR740–750/ton EXW.
Italy HRC
The Italian market was also largely stable. EUR705–710/ton EXW was reported as the workable price range, while producer offers were heard at around EUR720/ton EXW.
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