EUROPE HRC: Domestic prices keep rising on material shortage

Domestic prices for hot-rolled coil continued to rise across Europe on Wednesday May 12, with producers having few volumes to offer in the spot market and there being a lack of import alternatives, sources told Fastmarkets.

Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?1,058.13 ($1,285.71) per tonne on May 12, up by ?,?15.63 per tonne from ?,?1,042.50 per tonne on May 11.
The index was also up by ?,?43.13 per tonne week on week and up by ?,?156.46 per tonne month on month.
Wednesday's index was based on market sources' estimates of achievable prices and some transactions heard at ?,?1,025-1,100 per tonne ex-works.
ArcelorMittal increased HRC offers by ?,?50 per tonne to ?,?1,100 per tonne ex-works on Wednesday.

Fastmarkets' calculation for its daily steel hot-rolled coil...

Monetary-driven precious metals outperform major base metals

Gold stocks hit by plunging equities markets

Gold stocks down as metal and equities momentum fades

Another Kazatomprom guidance announcement shakes uranium price

Major monetary drivers still supporting gold