In the meantime, domestic mills continue to issue higher official offer prices.
Metal Bulletin’s weekly domestic price assessment for HRC in Northern Europe was €520-540 ($616-640) per tonne ex-works on Wednesday December 6, compared with €530-540 per tonne ex-works a week earlier.
The assessment reflected deals and “workable” prices heard in the market, while official offers have been reported at €540-560 per tonne ex-works.
“It seems that mills will officially target a €30 per tonne price increase, but the maximum achievable rise is €20 per tonne by the end of the first quarter,” a Northern European trader said.
Such a rise would be...