EUROPE HRC: Buyers avoid new deals on expected price decrease

European buyers of hot-rolled coil have been holding back from making new deals due to the risks related to restocking ahead of an expected price decrease, sources told Fastmarkets on Wednesday January 27.

Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at €708.75 ($860.82) per tonne on Wednesday, down by €2.25 per tonne from €711.00 per tonne on January 26.
The index was down by €6.75 per tonne week on week but up by €43.75 per tonne month on month.
The calculation of Wednesday’s index was based on achievable prices heard at €700-720 per tonne ex-works.
Fastmarkets’ weekly price assessment for steel HRC, domestic, exw Southern Europe, was €700-710 per tonne ex-works on January 27, compared with €700-715 per tonne a week earlier.
The assessment was based on achievable prices and the lower end of offers heard at €700-720 per tonne ex-works.

Buyers have been mainly sticking...

Published

Maria Tanatar

January 27, 2021

18:48 GMT

London