EUROPE HRC: Prices stable on lack of activity; some mills look to export sales

Domestic prices for hot-rolled coil have been fairly stable across Europe due to the limited trading activity that has resulted from the 2019-nCoV coronavirus pandemic, sources told Fastmarkets on Wednesday March 25.

This price stability, however, has mainly been supported by the lack of trading and prices were likely to drop sharply when buyers return to the market, they added.
To compensate for the lack of domestic demand, some European mills have started to offer HRC to the export markets.
Domestic prices
Fastmarkets’ daily steel hot-rolled coil index, domestic, exw Northern Europe, was €473.00 ($510.96) per tonne on Wednesday, down by €1 per tonne from €474.00 per tonne ex-works on March 24.
Wednesday’s index was calculated based on offers prices heard at €470-480 per tonne ex-works, as well as “workable” prices estimated by market sources at €460-470 per tonne ex-works.

No deals have been heard in the market. Buyers were reported to...

Published

Maria Tanatar

March 25, 2020

19:24 GMT

London