According to sources, German steel mills are reported to have made offers in the €700-730 ex-Ruhr range for HRC for April and May. Besides weakening demand in the market, prices are expected to fall further in the coming periods.
In Northwest Europe, import HRC prices were reported at €650/mt CIF Antwerp. HRC prices in Italy were reported at €710/mt ex-works. SteelRadar sources reported that buyers do not look favorably on seaborne cargoes due to long lead times and geopolitical conditions. As previously revealed by SteelRadar, the extension of European safeguard measures for another two years until mid-2026 remains on hold. It was also emphasized that buyers are not sure that changes in quotas are included in the safeguard measures and are therefore cautious.
On the other hand, sources anticipate that producers will reduce their prices to the lowest level in the short term.
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