Domestic prices for hot-rolled coil (HRC) in Europe should increase on the back of support from rising import prices as well as buyers' restocking, sources told Fastmarkets.
European steelmakers have already increased official offers, starting with ArcelorMittal pushing offers up by ?,?30 ($34) per tonne at the end of last week."The buyers are in 'wait-and-see' mode until Chinese mills return from holidays to see where the prices would move. Obviously there is no direct impact on Europe, because there is a number of trade defence measures in place, but they still set the tone for the global market," a Northern European...