Despite the limited trading activity, prices are not expected to go down, according to market sources.
European mills have already almost sold out their second-quarter production material, but have not announced new prices yet. The new offers for third-quarter production are likely to be announced with a price rise, sources said.
In addition, end-users have not fully transferred the achieved price rises in HRC into their finished products prices, according to market sources. So steel distributors are also waiting until the end-user sectors reflect current HRC costs in their product prices. This might take about a month to happen, sources said.
“End-users still can get some cheap material...