Domestic prices for hot-rolled coil (HRC) in Europe have been stable over the past week, but offer prices for material were expected to move upward, sources told Fastmarkets on Wednesday November 6.
Fastmarkets' weekly price assessment for steel HRC, domestic, exw Northern Europe, was unchanged over the week at ?,?415-425 ($461-472) per tonne on November 6.The corresponding assessment for steel HRC, domestic, exw Southern Europe, was ?,?385-400 per tonne on November 6, narrowing upward by ?,?5 per tonne from ?,?380-400 per tonne last week.The assessments represented the latest deals heard in the market.Some mills were reported to have withdrawn their offers, however.Both European steelmakers and distributors were expected to increase their offers of flat steel products due to a combination of decreasing pressure from imported competitor material and an expected drop in production in Italy.Domestic mills were expected to announce price rises of about ?,?20-40 per tonne later this week or next...