At the same time, Northern European transaction prices have been largely stable after the region’s steelmakers announced a price rise at the end of last week.
Southern European mills have been targeting prices of €400-420 ($443-465) per tonne ex-works, with deals reported at €400-405 per tonne ex-works.
This compared with Fastmarkets’ latest weekly price assessment for steel HRC, domestic, exw Southern Europe
, at €390-400 per tonne on November 13.
The price rise was supported by reduced output from the local steelmakers and a rise in import offers, particularly for material from Turkey, the main overseas supplier of HRC to Europe.