EUROPE HRC: Domestic prices reach 'bottom', mills plan to increase offers

Domestic prices for hot-rolled coil in Northern Europe have reached the "bottom", sources told Fastmarkets on Thursday June 18, with steelmakers expected to announce price rises soon.

Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe was ?,?392.14 ($441.08) per tonne on Thursday June 18, up by ?,?2.14 per tonne from ?,?390 per tonne on Wednesday June 17.
The index was, however, down by ?,?4.56 per tonne week on week and by ?,?17.86 per tonne month on month.
Some sources reported that the mills have been ready to trade HRC at ?,?370-390 per tonne ex-works, but said that such low prices will soon no longer be available.

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