The negative trend in prices in the EU market for hot-rolled coil (HRC) has softened and prices have now stabilized, market sources told Fastmarkets on Thursday May 23.
Domestic prices might start to recover slowly in the second half of June, some market participants added.Some European flat steel producers, including ArcelorMittal and Marcegaglia, have increased their official offers of HRC while others have stopped giving additional discounts to buyers.A unanimous pricing policy among mills will help first to stabilize prices and then to achieve price risea, market participants said.Domestic prices were expected to gain support from a reduction in domestic output and a lack of competitive import offers.Earlier this month, ArcelorMittal announced plans to cut output at its steelmaking facilities in Poland, reduce production in Spain and adjust shipments from ArcelorMittal Italia, temporarily...