European hot-rolled coil producers have remained in control of domestic prices despite mixed sentiment among buyers, market sources told Fastmarkets on Wednesday June 2.
Activity in the European hot-rolled coil market has been slow this week while buyers have preferred to hold back from new deals and proved reluctant to accept any further price increases.
EUROPE HRC WRAP: Domestic prices reach Eur1,000 per tonne Domestic prices for hot-rolled coil in the EU increased over the week to Friday April 30, going above â¬1,000 ($1,205) per tonne for the first time. At the end of last week, ArcelorMittal again increased its official offer prices for all steel coil products in Europe â by â¬20 per tonne for HRC and by â¬50 per tonne for downstream products. Its new offers for HRC were heard at â¬1,020 per tonne ex-works.
Some other mills were also reported to have increased their official offers.
Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at â¬1,007.14 per tonne on April 30, up by â¬35.89 per tonne week on week and up by â¬171.14 per tonne month on month.
Domestic prices for steel hot-rolled coil increased further across Europe over the week to Friday April 9 due to a material shortage and strong demand.
Domestic prices for hot-rolled coil (HRC) in Northern Europe increased further day on day on Tuesday March 9, supported by reduced availability, sources have told Fastmarkets.