Published: Jul 31, 2026 | By: Aldrich Ma

European domestic hot-rolled coil (HRC) prices edged lower on Tuesday, July 28, as the summer holiday season continued to weigh on trading activity across the region. Market participants reported that the week has become even quieter than the previous one, with the traditional August lull already taking hold.

In Northern Europe, mills were offering HRC at €700-730 ($797-831) per tonne ex-works for September and October delivery. However, buyers pushed back against the upper end of the range, with tradeable levels estimated at €700-710 per tonne ex-works. No fresh transactions were heard during the day. The Fastmarkets daily steel hot-rolled coil index for Northern Europe was calculated at €708.75 per tonne on July 28, down €3.75 from the previous day. While the index fell €3.54 week-on-week, it remained €26.25 higher month-on-month.

In Southern Europe, Italian mills were offering HRC at €710-715 per tonne ex-works, with tradeable levels estimated at €700-715 per tonne. The corresponding Fastmarkets index for Italy stood at €709.69 per tonne on July 28, up €0.31 from the previous day. On a weekly basis, the Italian index rose €7.19, and on a monthly basis, it climbed €35.92.

The summer slowdown in the European steel market has also affected demand for related steel products such as galvanized steel coils, steel pipes, and structural steel sections, as construction and manufacturing activities typically ease during the holiday period. For steel traders and suppliers, this seasonal dip often presents an opportunity to review inventory levels and prepare for the expected demand recovery in early autumn.

While prices remain under short-term pressure, the overall market outlook for the second half of 2026 remains cautiously optimistic, supported by infrastructure spending and steady demand from the automotive and construction sectors.