Domestic prices for steel hot-rolled coil in Europe moved further up over the week to Wednesday March 3, due to a coil shortage combined with strong demand, sources have told Fastmarkets.
Fastmarkets calculated its daily
steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?748.75 ($901.83) per tonne on Wednesday, up by ?,?8.75 per tonne from ?,?740.00 per tonne on March 2.
The index was up by ?,?18.07 per tonne week on week and by ?,?38.75 per tonne month on month.
The calculation of Wednesday's index was based on achievable prices heard at ?,?740-760 per tonne ex-works and a deal reported at ?,?750 per tonne ex-works.
Earlier this week, market sources said that some producers were targeting ?,?780 per tonne ex-works for HRC.
Fastmarkets' corresponding price assessment for
steel HRC, domestic, exw Southern Europe, was ?,?720-730 per tonne ex-works on March 3, up by ?,?10-20 per tonne week on week from ?,?700-720 per tonne.
The assessment was based on transactions and achievable prices heard...