Recently, the price increase of hot-rolled coil (HRC) in the European market has remained stable. Major downstream buyers anticipate that some local steel mills will increase production capacity and supply due to rising production margins. However, the mills are currently maintaining their existing production and pricing plans. 

Domestic distributors indicate that European mills' delivery time is stable, which means the mills still have spare capacity. In addition, escalating conflict in the Middle East led many steel mills to withdraw earlier price offers last week. Regarding prices, purchasers in Northern and Southern Europe remain cautious, and the market is balanced in terms of price and inventory at present.