Fastmarkets’ weekly price assessment for domestic HRC in Northern Europe was €485-495 ($552-564) per tonne ex-works on Wednesday June 26, compared with €485-500 per tonne ex-works a week earlier, reflecting transactions and “workable” prices heard in the market.
Fastmarkets’ weekly price assessment for domestic HRC in Southern Europe was unchanged over the week at €470-490 per tonne ex-works on June 26.
Italian steelmakers were reportedly offering material at €470-485 per tonne ex-works, while prices in Spain were heard at €480-490 per tonne ex-works.
Demand for HRC in Europe remains slow and the situation is unlikely to change significantly, market sources told Fastmarkets.
"Southern European buyers bought a lot of HRC when prices hit ‘bottom’ in May, so they don't really need any significant volumes now,” an Italian trader said.