Domestic prices for hot-rolled coil in Europe have been largely stable over the past week due to slow demand, market sources told Fastmarkets on Wednesday June 26.
Domestic pricesFastmarkets' weekly price assessment for domestic HRC in Northern Europe was ?,?485-495 ($552-564) per tonne ex-works on Wednesday June 26, compared with ?,?485-500 per tonne ex-works a week earlier, reflecting transactions and "workable" prices heard in the market. Fastmarkets' weekly price assessment for domestic HRC in Southern Europe was unchanged over the week at ?,?470-490 per tonne ex-works on June 26.Italian steelmakers were reportedly offering material at ?,?470-485 per tonne ex-works, while prices in Spain were heard at ?,?480-490 per tonne ex-works.Demand for HRC in Europe remains slow and the situation is unlikely to change significantly, market sources told Fastmarkets. "Southern European buyers bought a lot of HRC when prices hit 'bottom' in May, so they don't really need any significant volumes now," an Italian trader said.In Northern...