EUROPE HRC: Market remains slow; mills expected to increase offers

• Thursday, June 18, 2020
• Source:ferro-alloys.com

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[Ferro-Alloys.com] European buyers of hot-rolled coil are anticipating price increases from domestic steelmakers after definitive safeguard measures come into force, sources told Fastmarkets on Wednesday June 17.

 

Activity in the European HRC market has remained slow this week due to ample stocks among distributors and persistently weak demand from end consumers.

 

Fastmarkets’ daily steel HRC index, domestic, exw Northern Europe was €390 ($440.64) per tonne on Wednesday, down by €1.56 per tonne from €391.56 per tonne on Tuesday June 16.

 

Wednesday’s index was calculated based on offers heard at €390-400 per tonne ex-works and bids and workable prices heard at €380-390 per tonne ex-works.

 

The index was down by €7.92 per tonne week on week and by €20 per tonne month on month.

 

Fastmarkets’ weekly assessment of steel HRC, domestic, exw Southern Europe was unchanged week on week at €370-380 per tonne.

 

Official offers for HRC in Italy were heard at around €370-380 per tonne ex-works, while prices in Spain were reported at €380-405 per tonne ex-works.

 

Source: Metalbulletin

 

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