Domestic prices for hot-rolled coil (HRC) in Southern Europe fell this week, mainly due to lower import offers, sources told Metal Bulletin.
In addition, the domestic prices moved down as end users continued to resist any price rises from distributors, having not fully absorbed the price increases from the first quarter of this year, according to market sources.Metal Bulletin's weekly price assessment for HRC imported into Southern Europe was ?,?525-540 ($641-660) per tonne cfr main ports on Wednesday April 25, down from ?,?525-550 per tonne cfr main ports.The assessment reflects HRC offers from Turkey and Egypt. HRC was also on offer from India at ?,?550 per tonne cfr main ports, but was not included in the assessment as it was "uncompetitive" compared with other offers.The low import offers dragged down domestic prices and Metal Bulletin's price assessment for domestic HRC in Southern Europe was ?,?530-550 per tonne ex-works on April...