EUROPE HRC: Material shortage supports further price recovery

Buyers are accepting higher prices for hot-rolled coil from European mills, but the number of offers and traded volumes remain limited, sources told Fastmarkets on Monday June 21.

German and other Northern European producers were reportedly holding back from making new offers because their order books are good and they prefer to take their time before providing new prices to buyers. The region’s steelmakers are sold out of HRC until fourth-quarter rolling, market sources said.

Although buyers have made attempts to limit their purchases, they have low stocks and demand remains strong, so deals have...

Published

Maria Tanatar

June 21, 2021

16:31 GMT

London