EUROPE HRC: Market sentiment bullish on material shortage

The mood in the European hot-rolled coil market has become bullish due to a combination of a material shortage and strong demand, sources told Fastmarkets on Thursday March 18.

Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?792.50 ($944.71) per tonne on Thursday, up by ?,?1.25 per tonne from ?,?791.25 per tonne on March 17.
The index was also up by ?,?0.71 per tonne week on week and by ?,?67.50 per tonne month on month.
The calculation of Thursday's index was based on achievable prices heard at ?,?780-800 per tonne ex-works.

Fastmarkets...

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