EUROPE HRC: Good demand, short supply buoy producers' bullish mood

Domestic prices for hot-rolled coil (HRC) in Northern Europe increased day on day on Monday March 8, following some domestic steel makers announcing price rises, sources told Fastmarkets.

Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?753.75 ($897.81) per tonne on Monday March 8, up by ?,?3.75 per tonne from ?,?750 per tonne on Friday March 5. The index was also up by ?,?13.75 per tonne week on week and by ?,?43.75 per tonne month on month.
At the end of last week, ArcelorMittal increased official offers for HRC to ?,?800 per tonne ex-works, up by ?,?50 per tonne from recent offers. Downstream coil product offer prices, meanwhile, moved up by ?,?20 per tonne following a similar rise a week earlier.

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