EUROPE HRC: Domestic prices continue to rise across Europe

Domestic prices for hot-rolled coil in Europe increased again in the week to Wednesday November 11, supported by tight supplies, sources told Fastmarkets.

"There is a shortage of HRC in the market," an Italian distributor told Fastmarkets. "Buyers are struggling to get material from either domestic or overseas mills and, naturally, [then] have to accept higher prices."
Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?524.50 ($619.82) per tonne on November 11, up by ?,?2.83 per tonne from ?,?521.67 per tonne on Tuesday.
The index was also up by ?,?19.39 per tonne week on week and by ?,?31.17 per tonne month on month.
Wednesday's index was based on achievable prices heard at ?,?520-530 per tonne ex-works, with deals reported at the same price.

The region's steelmakers have been offering HRC at ?,?540-550 per tonne, but this was not included in the index because no...

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