Market participants believe that domestic prices for hot-rolled coil (HRC) in Northern Europe have 'reached bottom,' sources told Fastmarkets on Wednesday October 31.
Prices in southern and central Europe remained under pressure because of slow trading, they added.Northern EuropeFastmarkets' weekly price assessment for domestic HRC in Northern Europe was stable over the week at ?,?550-565 ($625-642) per tonne ex-works on October 31.The assessment reflected the latest deals heard in the market.Although demand has started to slow down for seasonal reasons, domestic HRC prices are expected to be supported by a number of factors, including good order books at the mills and uncompetitive import offers, according to market sources."[Northern European] mills claim that they are well booked," a Northern European trader said.One of the region's big steelmakers claimed to be booked until March 2019 delivery, market sources said.Fastmarkets' weekly import price assessment for HRC in Northern Europe was ?,?530-540 per tonne cfr main...