HRC market in Europe started the week with a decrease

European hot rolled coil markets have witnessed lower prices so far this week as the trade market continues to slow down.

The European HRC market has been experiencing a slowdown and prices have been decreasing daily, sources said, adding that buyers are expecting further decreases. According to SteelRadar data, HRC [EN 10025] prices in Germany traded at €690 in the early week of March 25, down €15 from €705 in the week to March 18, while trade in the region remained limited. Sources indicated that buyers are refraining from buying at the moment as import volumes are expected to become more clear after the Easter holidays.

The situation in Southern Europe has been different from that in Northern Europe, with HRC prices in Italy, which last changed on Monday, March 18, remaining stable at €675 in the week to March 25. The situation is similar in Spain, where prices have been stable since March 11, trading at €730, with no major price changes expected in the coming quarter.

SteelRadar sources underlined that the HRC market in Northern Europe is experiencing price decreases due to slow demand, low raw material prices and strong competition, while the HRC market in Southern Europe remains stable.