[SMM Steel] European HRC Prices Diverge as Weak Demand Limits Further Gains
[European Union] European HRC prices showed mixed movements in the October 15 market update. On October 14, the Northwest European HRC index fell by approximately USD 4/tonne to USD 828/tonne ex-works, while Italy's index increased by around USD 2/tonne to USD 830/tonne ex-works. Despite mills having largely filled their fourth-quarter order books, weak downstream demand continued to limit buyers' willingness to accept further increases. Northwest European mills' target of approximately USD 874/tonne delivered remained difficult to achieve, while import offers at Antwerp of USD 874–896/tonne DDP were rejected as too expensive.