The mood in the European hot-rolled coil market has been bullish amid a lack of competitive import offers and domestic mills' good order books, sources told Fastmarkets on Wednesday February 26.
Northern Europe
Fastmarkets' daily steel hot-rolled coil index, domestic, ex-works Northern Europe was at ?,?483.71 ($525.29) per tonne on Wednesday February 26, down by ?,?0.27 per tonne day on day from ?,?483.98 per tonne on February 25.
The index was calculated based on deals heard at ?,?475-490 per tonne ex-works and "workable" prices evaluated by buyers at ?,?470-485 per tonne ex-works.
Some Northern European mills have reportedly offered HRC to the south of Europe at ?,?470 per tonne ex-works.
Market sentiment remains upbeat because a combination of long lead times...