EUROPE HRC: Mills to push offer prices up despite slow trading

European producers were planning to increase their official offer prices for domestic hot-rolled coil despite buyers taking a watchful stance until the price trend became clear, sources told Fastmarkets on Wednesday October 14.

Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at €495.00 ($582.64) per tonne on Wednesday, up by €1.25 per tonne from €493.75 per tonne on October 13.
The index was down by €2.50 per tonne week on week but was up by €18.55 per tonne month on month.
Wednesday’s index was based on achievable prices heard at €480-500 per tonne ex-works, with the majority of sources reporting “workable” prices at €490-500 per tonne ex-works. Deals have been heard at €500 per tonne ex-works.
The region’s steelmakers have pushed their official offers for HRC up to €520-540 per tonne, compared with €520-530 per tonne ex-works a week earlier. But this range was not included in the index because no deals have been confirmed at that price.

Fastmarkets’ weekly price assessment for steel HRC, domestic, exw...

Published

Maria Tanatar

October 14, 2020

16:52 GMT

London