EUROPE HRC: Buyers push for lower prices on negative sentiment

European buyers of hot-rolled coil expected that domestic steelmakers would accept lower prices, sources told Fastmarkets in Wednesday April 22.

Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was ?,?445.00 ($482.60) per tonne on Wednesday April 22, down by ?,?0.63 day on day from ?,?445.63 per tonne on Tuesday.
And although official offers have been heard at ?,?455-470 per tonne ex-works, bids and "workable" prices have been heard at only ?,?430-440 per tonne ex-works.
The index was down by ?,?18.33 per tonne week on week on Wednesday.
Fastmarkets' corresponding weekly price assessment for steel HRC, domestic, exw Southern Europe, was ?,?420-435 per tonne on April 22, compared with ?,?420-430 per tonne ex-works a week earlier.

Only one Italian steelmaker was reported to still be active in the market, offering HRC...

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