Via Metal Miner Steelmakers in Western Europe are trying to push through increases for their hot rolled coil, though sources noted that it was hard to determine where steel prices were at present. Reports indicate that mills are now seeking about €600 $650 EXW per metric ton, reflecting an increase from deals that were as low as €520-530 in late September. However, those prices also reflect a 25% decrease from the €800 $865 mills sought in January.
CRC normally carries an average premium of €100 $110 per metric ton over HRC. According to an October 22 statement from the European Automobile Manufacturers’ Association ACEA, September new vehicle registrations in Europe were down 6.1% year on year to 809,163 units compared with 861,973 units in September of 2023. The German market itself also saw a 7% drop, whilst France and Italy saw respective drops of 11.1% and 10.7%.