EUROPE HRC: Domestic prices continue to rise in the north

Domestic prices for hot-rolled coil in Northern Europe have moved up day on day, supported by good order books at mills and a lack of competitive imports, sources told Fastmarkets on Wednesday February 19.

Fastmarkets' daily steel hot-rolled coil index, domestic, ex-works Northern Europe, was calculated at ?,?481.25 ($520.53) per tonne on February 19, up by ?,?0.94 per tonne from ?,?480.31 per tonne on February 18.
The index was calculated based on deals heard at ?,?480-485 per tonne ex-works and "workable" prices reported at ?,?480-490 per tonne ex-works.
A rumor has been circulating in the market that a northern European producer sold HRC at ?,?460 per tonne ex-works. That sale was reported to be a deal that had been made in the fourth quarter last year, however, and the shipment was rescheduled afterward.
Official offers have been heard at ?,?490-500 per tonne ex-works.

Although the prices have continued to rise this week, the pace has slowed down, mainly due to buyers being unwilling to risk acquiring large lots of material from European producers...

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