Northwest European hot-rolled coil steel markets remained tracking recent higher steel pricing offers, and interest in demand around the second quarter as market supply and steel cost risks clouded sentiment.

A Eur1,000 mt ex-works ($1,130/mt) level and higher for HRC offers was officially being discussed currently for Northwest European mills, a buyer said, citing several producers for reference.

Higher steel producer offers of Eur50-Eur100/mt and limited availability continues to support tradable value, with no transaction being confirmed at earlier booking levels.

Steel purchasing sources in northern Europe cited higher prices from regional mills, and bookings potentially in a wide price range, depending on customer requirements, bilateral terms and orders.

A source in Germany cited limited fresh activity on market price volatility, tight regional March steel production availability and potentially stronger contract orders. Higher prices led to a wait and see mode, as mills sit on relatively strong margins. End-user customers at smaller distributors and stockholder may yet be paying higher prices, awaiting further confirmation of price changes before taking on higher costs.

Lower prices were expected to be available from Eastern European mills with negotiations, even though prompt availability could not be confirmed.

No import coil offers were heard on the day into northern Europe, with interest in taking on import positions also currently limited in one case.

Activity and latest pricing for local and import coils in the Italian and Spanish market was not immediately confirmed.