Domestic transaction prices for hot-rolled coil increased substantially across Europe in the week to Wednesday December 16 due to a shortage of material in the market, sources told Fastmarkets.
But the number of transactions and volumes were reported to be limited due to buyers' concern that the price rise is unlikely to be sustainable for long.
Fastmarkets calculated its daily
steel hot-rolled coil index, domestic, exw Northern Europe at ?,?646.00 ($785.03) per tonne on Wednesday, up by ?,?9.75 per tonne from ?,?636.25 per tonne on Tuesday December 15.
The index was up by ?,?42.67 per tonne week on week and ?,?117.25 per tonne month on month.
Wednesday's index was based on deals and achievable prices heard at ?,?630-650 per tonne ex-works and offers heard at ?,?650 per tonne ex-works.
Northern European mills are preparing another price increase; market sources anticipate that offers will be about ?,?700 per tonne ex-works. One producer offered HRC at ?,?680 per tonne ex-works earlier this week.
Fastmarkets' weekly price assessment for steel HRC, domestic, exw Southern Europe...