EUROPE HRC: Domestic prices continue to rise on tight supply

Domestic prices for hot-rolled coil in Europe increased further week on week on Wednesday October 7, driven by long lead times from domestic mills and a lack of import offers, sources have told Fastmarkets.

Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?497.50 ($585.83) per tonne on Wednesday, up by ?,?1.04 per tonne from ?,?496.46 per tonne on October 6.
The index was up by ?,?6.59 per tonne week on week and by ?,?30.11 per tonne month on month.
Wednesday's index was based on deals heard at ?,?495-505 per tonne ex-works, "workable" prices reported at ?,?495-510 per tonne ex-works and bids of ?,?490 per tonne ex-works.
Northern European mills have been offering January-February 2021 delivery material. One producer was also reported to be offering March delivery.

Lead times have been long mainly due to production cuts and equipment stoppages after Covid-19-related lockdowns across Europe earlier this year. Although steelmakers have...

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