Domestic buyers of hot-rolled coil (HRC) in Northern Europe have been resisting attempts to raise offer prices this week, sources told Fastmarkets on Thursday February 14.
Transaction prices, however, were expected to rise in the near future, supported by higher offers for imported coil and increases in raw material costs, according to market participants."Prices have stabilized. The mills [in Northern Europe] are not giving any discounts and prices are likely to increase soon," a Northern European trader said.European steelmakers have already increased their official offers, beginning when ArcelorMittal raised its offers by ?,?30 ($34) per tonne in late January.On February 13, Fastmarkets' weekly price assessment for domestic HRC...