EUROPE HRC: Material shortage, solid demand drives domestic prices up again

Domestic prices for steel hot-rolled coil in Europe moved further up over the week to Wednesday March 3, due to a coil shortage combined with strong demand, sources have told Fastmarkets.

Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at €748.75 ($901.83) per tonne on Wednesday, up by €8.75 per tonne from €740.00 per tonne on March 2.
The index was up by €18.07 per tonne week on week and by €38.75 per tonne month on month.
The calculation of Wednesday’s index was based on achievable prices heard at €740-760 per tonne ex-works and a deal reported at €750 per tonne ex-works.
Earlier this week, market sources said that some producers were targeting €780 per tonne ex-works for HRC.
Fastmarkets’ corresponding price assessment for steel HRC, domestic, exw Southern Europe, was €720-730 per tonne ex-works on March 3, up by €10-20 per tonne week on week from €700-720 per tonne.

The assessment was based on transactions and achievable prices heard...

Published

Maria Tanatar

March 03, 2021

18:00 GMT

London