Steel HRC prices rise in Northern Europe and Italy

Steel hot-rolled coil (HRC) prices are rising in Northern Europe and Italy due to tightening supply and a post-summer increase in market activity.

In Northern Europe, prices have been supported by planned maintenance at thyssenkrupp’s blast furnace No. 2 in Duisburg. The company is taking the furnace offline for approximately 60 days to perform refurbishments on cooling systems and refractory linings. While no full production stop is expected at the site, the maintenance is anticipated to reduce material availability through the end of the year. Consequently, the Fastmarkets daily steel HRC index for Northern Europe rose to €755 per tonne on September 2.

In Italy, market activity has resumed following the summer holiday slowdown, with prices trending higher than August levels. Additionally, uncertainty regarding potential duties under the steel safeguard system has caused some customers to hesitate on importing material, further bolstering the pricing power of local mills.