EUROPE HRC: Sentiment still bullish on reduced domestic output, uncompetitive imports

Sentiment in the Northern European hot-rolled coil market remained upbeat on Monday September 21, driven by reduced output from domestic steelmakers and a lack of competitive import offers, sources told Fastmarkets.

Fastmarkets calculated the daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?484.95 ($574.10) per tonne on Monday, down by ?,?1.97 per tonne from ?,?486.92 per tonne on September 18.
The index was, however, up by ?,?8.50 per tonne week on week and by ?,?51.20 per tonne month on month.

Monday's index...

Bank of Japan boosts rates, continuing an unwinding carry trade

Gold stocks outperform equity market slide

Silver inventories rebound in UK, output from major producers rises

Silver's three-month outperformance continues

Silver & Copper Supply Distortions Continue