EUROPE HRC: Domestic mills 'will use safeguard case to raise prices'

European mills are expected to use the region’s newly launched safeguard case into steel import to increase their prices for hot-rolled coil (HRC), market sources told Metal Bulletin on Wednesday March 28.

The European Commission (EC) launched the safeguard investigation into 26 steel product types on March 26 in an attempt to prevent the redirection of steel in the global export markets from the United States to the EU market. Among other products, the case will also look into hot-rolled steel sheet and strip.
“The mills are going to use the case to [try to] get higher prices,” a Northern European trader said. “The case gives steelmakers an opportunity to ask for higher prices despite lower import prices and a lack of demand.”

In the meantime, domestic prices for HRC have been stable across Europe, with no deals heard for new rolling material....

Published

Maria Tanatar

March 28, 2018

17:44 GMT

London