EUROPE HRC: Tight supply drives domestic prices upward

Long lead times and a reduced domestic output have combined with a lack of competitive import offers to drive up the local price for hot-rolled coil in Europe, sources have told Fastmarkets.

Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at €487.61 ($572.17) per tonne on Wednesday September 23, up by €2.26 per tonne from €485.35 per tonne on Tuesday.
The index was up by €4.99 per tonne week on week and by €43.86 per tonne month on month.
Wednesday’s index was based on deals heard at €485-495 per tonne ex-works, achievable prices estimated by market sources at €480-495 per tonne ex-works and offers reported at €480-500 per tonne ex-works.

Although some of the region’s steelmakers have been offering HRC as high as €520-530 per tonne, these offers were not included...

Published

Maria Tanatar

September 23, 2020

18:08 GMT

Dnipro