[SMM Steel] Off-season effect compounded by policy wait-and-see, EU HRC price increase may be difficult to materialize
[EU] EU local steel demand remains weak due to poor weather conditions and extended summer holidays, and HRC prices are under downward pressure. Currently, some steel mills' ex-works quotations are around $775–781/mt EXW, but traders report that actual transaction prices are even lower and vary by region. Although there were rumors that large steel mills planned to increase prices by $57–80/mt from July to August, given the current weak conditions, the likelihood of further price increases remains unclear. Buyers are currently fully in a wait-and-see mode, awaiting clearer market conditions after July 1. In the short term, the overall market is expected to remain under pressure.