End-user demand has been weak, so buyers were unwilling to place large-tonnage orders, sources told Fastmarkets. At the same time, production costs have been rising and placing upward pressure on the flat steel import market.
Fastmarkets’ daily index for Northern Europe-origin HMS 1&2 (80:20)
scrap material was $318.46 per tonne cfr on March 19, rising from $317.17 per tonne cfr on March 12.
China-origin hot-rolled coil was on offer to the UAE this week at around $550...