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EU HRC: Appetite brisker in the north

  • : Metals
  • 19/11/25

The northwest European hot-rolled coil (HRC) market is slowly starting to follow the lead set by Italian prices, while the latter have paused given constant increases in import offers.

Argus' daily northwest Europe HRC index rose €3.25/t today to €417.75/t ex-works, while the daily Italian index nudged €0.75/t higher to €407/t ex-works.

Tier-one mills in the north are targeting €430/t ex-works and higher for base material. Lead times have nudged out a touch across Europe, with mills reducing capacity and trying to firm their pricing stance during contractual negotiations. One steelmaker said €430/t base had been achieved in Germany, but this was not confirmed, and it was not clear whether it was spot business.

A mill is readying an increase announcement in the UK too, following similar efforts on the continent.

German buyers suggest lower prices are harder to come by, and mills allude to brisker intake for the first quarter; given the heavy destocking witnessed across the automotive supply chain this year, despite the fairly mild drop in European production, many suggest apparent demand from the sector should feel firmer headed into 2020. Contractual talks for half- and full-year 2020 deals are still ongoing.

Traders suggest import inquiries are starting to increase, as buyers look for alternatives to domestic material. German production slipped by 6.8pc in October compared to the same month last year, as mills reduced output on slow demand.

In Italy there is still a lot of talk about higher prices and rising offers, but the panic of recent weeks has abated somewhat. Import offers from Turkey are as high as €440-445/t cif, but the latest deals were closer to €415/t cif effective S235 for larger tonnage. One domestic Italian steelmaker is offering €415/t ex-works base, and looking to push to €420/t and above for the first quarter. Another has been offering around €410/t but is targeting €420-430/t for the first quarter.

A trader said he had sold over 600t of quayside inventory at €435-440/t for S235.


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