EUROPE HRC: Domestic prices tumble in north after carmakers close plants

Domestic prices in Europe for hot-rolled coil have fallen by €7.31 per tonne day on day following a slump in demand, sources told Fastmarkets on Thursday March 19.

Demand for flat steel drastically decreased after a number of automotive manufacturers temporarily closed some or all of their operations due to the 2019-nCoV coronavirus pandemic.
Fastmarkets’ daily steel hot-rolled coil index, domestic, exw Northern Europe, was €470.00 ($514.64) per tonne on Thursday, down by €7.31 per tonne day on day from €477.31 per tonne on March 18.
Thursday’s index was calculated based on offers heard at €460-475 per tonne ex-works. Within the range, most reported offers were around €470 per tonne ex-works.

Sources also said that some mills have been offering the material...

Published

Maria Tanatar

March 19, 2020

20:05 GMT

London