EUROPE HRC: Domestic steelmakers to raise offers despite scarce demand

European steelmakers will attempt to increase domestic prices for hot-rolled coil despite poor demand, sources told Fastmarkets on Wednesday May 27.

Fastmarkets’ daily steel hot-rolled coil index, domestic, exw Northern Europe, was unchanged day on day at €407.50 ($446.38) per tonne ex-works on May 27.
Wednesday’s index was calculated based on “workable” prices heard at €400-410 per tonne ex-works as well as official offers reported at €410-415 per tonne ex-works.
The index was down by €2.50 per tonne week on week and by €33.00 per tonne month on month.
And Fastmarkets’ weekly price assessment for steel HRC, domestic, exw Southern Europe, was €370-390 per tonne on May 27, compared with €380-390 per tonne ex-works a week earlier.
The assessment reflected the lower end of offers in Italy. Official offers have been heard at the equivalent of €370-400 per tonne ex-works.

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Maria Tanatar

May 27, 2020

17:02 GMT