Fastmarkets’ daily steel hot-rolled coil index, domestic, ex-works Northern Europe
, was calculated at €481.25 ($520.53) per tonne on February 19, up by €0.94 per tonne from €480.31 per tonne on February 18.
The index was calculated based on deals heard at €480-485 per tonne ex-works and “workable” prices reported at €480-490 per tonne ex-works.
A rumor has been circulating in the market that a northern European producer sold HRC at €460 per tonne ex-works. That sale was reported to be a deal that had been made in the fourth quarter last year, however, and the shipment was rescheduled afterward.
Official offers have been heard at €490-500 per tonne ex-works.
Although the prices have continued to rise this week, the pace has slowed down, mainly due to buyers being unwilling to risk acquiring large lots of material from European producers...