EUROPE HRC: Domestic prices up on lack of competitive imports, recovery in demand

Domestic prices for hot-rolled coil in Europe increased on Wednesday January 15, supported by a lack of competitive import offers and a seasonal recovery in demand, sources told Fastmarkets.

Fastmarkets' daily steel hot-rolled coil index, domestic, ex-works Northern Europe, was fairly stable at ?,?443.06 ($493.13) per tonne on Wednesday January 15, up by only ?,?0.36 per tonne from ?,?442.70 per tonne on January 14 - a week-on-week increase of ?,?2.7 per tonne.
The index calculation was based on deals and "workable" prices heard at ?,?440-450 per tonne ex-works.
Producers and buyers believe the price trend is positive and that domestic prices will recover, with more deals likely to be one at ?,?450 per tonne ex-works, according to market sources.

In the meantime, official offers for the...

Gold stocks mixed after previous week's huge gains

Large TSXV gold multiple driven up by high Artemis weighting

Monetary-driven precious metals outperform major base metals

Gold stocks hit by plunging equities markets

Gold stocks down as metal and equities momentum fades