Northern Europe HRC Index Slips to €722.08 as Buyers Signal €700-720

1 articles · Updated · eurometal.net · Aug 24

€722.08 per tonne marked Northern Europe’s domestic HRC index on Aug. 21, down €2.30 day on day after buyers pointed to workable levels of €700-720 ex-works.
Thin holiday trading limited fresh price discovery, so Aug. 20 data were carried over; recent reports showed Q4 offers at €725-745 and deals from €715 to €740 per tonne.
Germany still showed firmer demand, with some mills targeting as much as €800 per tonne ex-works for October delivery, though traders said it was too early to tell whether buyers would accept that.
Italy stayed largely inactive ahead of workers returning in the week of Aug. 24, leaving its domestic HRC index unchanged at €712.50 per tonne after recent offers at €700-720.
Despite the daily dip, Northern Europe’s index remained up €3.33 week on week and €12.08 month on month, underscoring a market that is quiet now but still higher than earlier in the summer.