European HRC market is experiencing stagnation

The trading slowdown in Europe's HRC market continued on Monday, March 18, leading buyers to make short-term deals.

The HRC market in Southern Europe started the week of March 18 on a sluggish note, with HRC [EN 10025 (S235JR)] in Italy down €8 per ton from €683 on March 15 to €675 per ton on Monday, March 18, according to SteelRadar data. Sources reported that prices for HRC continue to decline and buyers are waiting for prices to decrease completely before approaching the market with restocking, thus keeping the market quiet.

In Spain, the HRC market has been stable since March 11 and prices have remained stable at €630. In the North Europe, the market was unchanged, with HRC from Germany falling by €5 per ton from €710 on Friday, March 15 to €705 per ton on Monday, March 18.

Sources speaking to SteelRadar said that trade across the EU has been stable and they continue to insist that production cuts could possibly halt the downtrend and help balance supply and demand.