European steelmakers withdrew their quotations for domestic Hot Rolled Coil issued to the market on March 28 due to plans to increase the market price of  hot coils, and are expected to increase the ex-factory price of hot coils to about 900 euros/ton.

Due to the tight supply caused by the shutdown of European Steel mill equipment and factory technical problems last year, European Steel mills are currently in a strong bullish mood and have begun to provide June-July coils. Demand in the European auto industry is also gradually recovering. The current European steel mills are out of the market again, and plan to return to the market with new, higher prices. The current southern European HRC ex-works price is €850/t EXW Italy, up €20/t on the day.

After the domestic price rises, although the price of imported Hot coils has become more competitive, due to the limited supply of coils in non-EU countries, the share of the export market is still not large, so there will not be much negative impact on European prices Influence. Currently, HRC imports from India are quoted at EUR 750-760/ton CFR, Japan at EUR 780/ton CFR, and South Korea and Vietnam at EUR 770/metric ton CIF Italy.