Domestic demand has remained subdued in the European HRC market in the past few weeks, both because distributors have sufficient stocks and because the automotive industry is still in the midst of a deep crisis. However, most market sources believe that prices are close to the bottom, also considering the fact that raw material prices have remained relatively strong. For these reasons, there are rumors that north European steelmakers are going to raise their offers next week, also because they want to underpin current transaction levels. Currently, local HRC base prices are around €400/mt ex-works in northern Europe, while they are at €380-390/mt in the Italian domestic market, i.e., slightly lower compared to the €385-400/mt level recorded on June 5, all ex-works. There are also rumors that an Italian flat steel producer may halt its furnace in late June for overhauling, which should prevent lower price decreases in the domestic market. According to sources, local producers are not willing to sell at prices below €380/mt ex-works as their margins are already non-existent. According to market sources, some German producers are also planning stoppages for the month of July. Meanwhile, the import market is very quiet since offers are not competitive at the moment, and also there are not adequate financial resources for customers to commit to import contracts at the moment. Moreover, a final decision in the second safeguard review case is expected from the European Commission by the end of June, while an antidumping investigation was initiated a few weeks ago against Turkish HRC.