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Although it is difficult to boost demand in the current European hot coil market, market prices are showing a narrow upward trend. European steel mills are showing a positive attitude towards the future, especially after the EU implemented new safeguard measures on July 1st, reducing the import volume of hot coils under the 'other countries' HCT780C steel category by about 1-1.5 million tons, thereby boosting the domestic market.
At present, the price of Nordic hot coils is around 620-640 euros/ton EXW, showing an increase of about 4 euros/ton on a weekly basis, but there is almost no change on a monthly basis. It is expected that the price of hot coils arriving in September will show an upward trend in the future. Some buyers have shown a wait-and-see attitude, mainly because the current economy in Europe HCT780C steel has not yet been boosted, and sheet prices are also very light, so there is a possibility of price decline. In southern Europe, the local hot coil price in Italy is around 628 euros/ton, an increase of 2 euros/ton compared to Monday and an increase of about 8 euros/ton on a weekly basis. However, it has decreased by about 4 euros/ton month on month, and the actual transaction HCT780C steel price may decrease by 5-10 euros/ton.
