EUROPE HRC: Domestic prices jump on reduced output, limited imports

Domestic prices for hot-rolled coil jumped day on day in Northern Europe on Wednesday September 9, supported by long lead times, reduced output from local mills and a lack of import offers, sources have told Fastmarkets.

Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was calculated at ?,?476.25 ($561.71) per tonne on Wednesday, up by ?,?8.30 per tonne from ?,?467.95 per tonne on Tuesday.
The index was also up by ?,?19.90 per tonne week on week and by ?,?62.08 per tonne month on month.
Wednesday's index was based on a deal heard at ?,?470-490 per tonne ex-works and "workable" prices reported at ?,?470-480 per tonne ex-works.

The region's steelmakers have pushed their official offers for HRC up to ?,?500-530 per tonne ex-works, with ArcelorMittal offering the material at ?,?520-530 per tonne ex-works in Northern Europe. These offers were not included in the index, however, because no deals have been confirmed...

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