In Northern Europe, domestic prices picked up slightly, but buyers largely resisted the rises. This region’s steel sector has traditionally been less exposed to the influence of imports and more focused on its domestic market, so any price rises were likely to be slower to take effect, according to market sources.
On Tuesday, ArcelorMittal added a further €30 ($34) per tonne to its European coil steel offer prices, the second increase in less than a month.
Fastmarkets’ weekly price assessment for domestic HRC in Southern Europe was €480-510 ($543-577) per tonne ex-works on February 20, compared with €470-510 per tonne ex-works a week earlier.
An Italian integrated mill was reported to have sold smaller lots of HRC at €480-490 per tonne ex-works.
While Italian steelmakers...