en.Wedoany.com Reported - According to data from Euro Metal, Fastmarkets sources said recently that hot-rolled coil (HRC) prices in Northern Europe edged down due to low trading volumes, while prices in Italy rose amid limited transactions, reflecting caution in the European steel market amid weak demand and upcoming new EU import protection measures. A small batch of HRC in Northern Europe was traded at €670/tonne (ex-works), with market offers ranging between €675-710/tonne (ex-works).
A buyer source noted that market demand has not increased, inventories are quite ample, and there are still large volumes of goods at ports. The source added that mill order books are in good shape, but customers expect spot prices for July-August delivery to decline. If the new protection measures are less stringent than expected, prices could face pressure, including the impact of falling iron ore and energy prices, but no significant drop is expected in the next two months.
On June 24, the Official Journal of the European Union published Regulation (EU) 2026/1384 on new steel trade protection measures, but as of the time of publication, country-specific import quota information had not been disclosed. A source told Fastmarkets on Wednesday that quotas are expected to be announced on June 29-30, just before the new measures take effect on July 1, but this has not been confirmed. Uncertainty over future country quota allocations has kept the market in a wait-and-see mode throughout June.
Fastmarkets' daily HRC price index (Northern European domestic market/export) stood at €684.17/tonne ($779.94/tonne) on June 24, down €2.08/tonne from €686.25/tonne on June 23. The index fell €3.83/tonne from a week earlier but rose €4.17/tonne from a month earlier.
In Italy, a buyer source said that on Wednesday, a limited number of HRC transactions were concluded in the range of €670-700/tonne (ex-works) (€655-685/tonne ex-works), mainly to cover small supply gaps. A second buyer reported an acceptable price of around €700/tonne (delivered, i.e., €685/tonne ex-works). A seller indicated offers for September delivery at €685-690/tonne (ex-works), but no specific volumes were allocated due to the delivery period exceeding Fastmarkets' standard six-week cycle.
Demand from processors is very weak, with ample inventories, but market participants may need to wait until July to confirm country-specific import quotas, as the European Commission is still negotiating to determine appropriate quotas. Fastmarkets' daily HRC price index (Italian domestic market, ex-works) stood at €677.50/tonne on Wednesday, up €3.75/tonne from €673.75/tonne on Tuesday. The index fell €6.25/tonne from both the previous week and the previous month.
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