Actual situation on the HRC market

This week the EUROFER report for 1Q 2024 was released
Most EU HRC producers have suspended sales in anticipation of higher prices

The market expects trading to resume in early September, along with rising steel prices
Global hot-rolled coil prices are falling amid high competition in the markets

The European market is under pressure from import proposals, steel producers in China are waiting for further steps from the government
Tata Steel UK imports 25 thousand tons of hot-rolled coil from India

The products are mainly intended for the company's distribution centers
European HRC producers are aiming for further price increases

The trends in the Chinese HRC market will be determined after the holiday period

European HRC producers have raised prices for January 2023

The increase in European prices will not help exports from Turkiye yet
European steelmakers expect an increase in demand for HRC in early 2023

On the Asian and American markets, prices for hot-rolled coils increased
US steel prices may return to pre-pandemic level

American steelmakers believe that the HRC price at the beginning of 2023 will be lower than $650/t
The current prices on the European HRC market are not indicative

Buyers are testing the market to see if prices have bottomed out

The European hot-rolled coil market is not yet ready for recovery

Supply of Asian imports increased in the EU market in October
HRC prices in Europe continue to fall due to low demand

Despite the willingness of producers to provide discounts on products, demand is not recovering

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