European steel markets show stable prices and cautious optimism

European hot-rolled coil (HRC) markets remained largely quiet through late October, with domestic and import prices showing stability. In Northern Europe, tradable levels hovered between €740-750 per tonne ex-works. While trading activity was muted, some regional suppliers reported being sold out for December delivery, though other sources noted high customer inventory levels.

In Italy, the market was similarly quiet, with tradable levels indicated around €730 per tonne ex-works. The supply situation in Italy is expected to improve following the reported restart of Arvedi’s hot-rolling line, which had been halted due to technical issues in late September.

According to the EUROMETAL Market Sentiment Survey for October, steel distributors maintain a positive outlook for future activity over the next quarter. While current market conditions are assessed as predominantly neutral and stable, price expectations are oriented toward increases. Distributors are currently taking a measured approach to stock management, reflecting a sense of cautious optimism regarding a gradual market improvement.