Market participants believe, however, that prices have already reached “bottom” and although demand will not allow to increase prices they are likely to remain stable.
Fastmarkets’ weekly price assessment for steel HRC, domestic, exw Northern Europe
, was €415-425 ($461-473) per tonne on October 30, down by €5-10 per tonne week on week from €425-430 per tonne ex-works.
The majority of the region’s mills have been offering the material at €420-425 per tonne ex-works, according to market sources.
Market participants also said that HRC from two German mills have also been available at €420-425 per tonne delivered, the equivalent of €410-415 per tonne ex-works. Only the upper end of the price was included into the assessment as only few sources were able to confirmed transportation costs size.
Despite the recent decline of domestic prices, market sources believe that Northern European mills will not decrease prices further to avoid...