The reason behind the increase was a combination of upward sentiment in hot-rolled coil, which is used as the feedstock for CRC, and an expected reduction in flat steel output in Europe.
Fastmarkets’ weekly price assessment for domestic CRC in Northern Europe
was €580-590 ($653-664) per tonne ex-works on June 5, compared with €570-590 per tonne ex-works a week earlier.
The assessment reflected deals and “workable” prices heard in the market. Market participants believed that domestic transaction prices will...