Domestic prices for cold-rolled coil (CRC) in Europe have been largely stable over the past seven days with only minor increases reported, sources told Fastmarkets this week.
European mills have been looking to increase prices to offset rising costs, with ArcelorMittal adding a further ?,?30 ($34) per tonne to its European coil steel offer prices on Tuesday - its second price increase in less than a month.While buyers have been largely resisting these higher offers, they are likely to slowly accept price growth, according to market sources, due to rising raw materials costs, the expected pick-up in demand due to the re-stocking cycle and positive sentiment in the hot-rolled coil (HRC) feedstock market.While import offers in the HRC market have been largely...