EUROPE HRC: Producers seek price rises despite poor demand

European producers of hot-rolled coil have raised their domestic prices despite trading activity remaining scarce, sources told Fastmarkets on Wednesday June 24.

Some market sources questioned the success of the increase because demand levels do not support a price recovery. Others, however, believed that buyers will have to accept slightly higher prices due to high raw material costs and a lack of competitive import alternatives.
Still, demand remains poor, according to market sources. Distributors have sufficient stocks of material and end-user activity, although it has been recovering slowly, is not improving fast enough to support a significant price rebound.
Northern Europe
Earlier this week, ArcelorMittal increased its HRC offers in the region to ?,?440 per tonne ex-works. Some other producers also reportedly have been asking for a price rise.

Northern European mills have pushed their offers higher to reflect rising raw material...

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