[SMM Steel] Mills Struggle to Sustain Price Hikes; European HRC Diverges During Summer Lull

Published: Aug 6, 2026 14:31

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[EU] Despite steelmakers' earlier attempts to maintain firm pricing ahead of the summer break, Northwest European HRC offers slipped to 830 USD/tonne EXW, as room for negotiation remained for larger orders and rising capacity utilization added sales pressure on mills. Additionally, water levels at the Rhine's Kaub bottleneck dropped to a record low of 19 cm, continuously disrupting production efficiency at German steelmakers. On the import front, trading remained subdued as buyers' Q4 quotas were mostly booked and most market participants were away on holiday. Meanwhile, Indian offers for September shipments held steady at 650 USD/tonne CFR, with substantial procurement expected to resume only after market participants return in September.

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