Domestic prices for hot-rolled coil (HRC) in the EU have been largely unchanged over the week, but they are expected to pick up, sources told Metal Bulletin.
Some mills in Northern Europe have already started to offer HRC at higher prices, which has resulted in some increases of about ?,?5 ($5.80) per tonne, according to market participants. The increase of prices in Northern and Central Europe has been driven by seasonal demand recovery and effect from upcoming decision in safeguard case, according to market sources. "The buyers are still in 'wait-and-see' mode but the prices will move up later this month as demand is recovering and the prices are supported by lower import availability and mills' good order books," a German trader said.While steelmakers in Southern Europe are...