Domestic prices for steel hot-rolled coil in Europe increased again over the week to Wednesday March 10, due to a shortage of material, sources have told Fastmarkets.
Fastmarkets calculated its daily
steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?762.50 ($906.00) per tonne on Wednesday, up by ?,?6.25 per tonne from ?,?756.25 per tonne on March 9.
The index was also up by ?,?13.75 per tonne week on week and by ?,?54.17 per tonne month on month.
The calculation of Wednesday's index was based on achievable prices heard at ?,?750-780 per tonne ex-works.
Most of the region's mills have been holding back from offering material, sources said, with the latest official offers in Northern Europe heard at ?,?800 per tonne ex-works.
At the end of last week,
ArcelorMittal raised its official offer on HRC to ?,?800 per tonne ex-works, up by ?,?50 per tonne from the previous offer price. Downstream coil product offer prices, meanwhile, moved up by ?,?20 per tonne, following a similar increase a week earlier.