EUROPE HRC: Domestic prices rise on tight supply, good demand

Domestic prices for steel hot-rolled coil in Europe increased again over the week to Wednesday March 17, due to a shortage of material combined with solid demand, sources have told Fastmarkets.

Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?791.25 ($943.04) per tonne on Wednesday, down by just ?,?1.25 per tonne from ?,?792.50 per tonne on March 16.
The index was, however, up by ?,?28.75 per tonne week on week and by ?,?62.25 per tonne month on month.
The calculation of Wednesday's index was based on achievable prices heard at ?,?780-800 per tonne ex-works.
The corresponding price assessment for steel HRC, domestic, exw Southern Europe, was ?,?760-780 per tonne on March 17, up by ?,?10-30 per tonne week on week from ?,?730-770 per tonne.
The assessment was based on achievable prices and the few transactions heard in the market.

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