EUROPE HRC: Tight supply drives domestic prices upward

Long lead times and a reduced domestic output have combined with a lack of competitive import offers to drive up the local price for hot-rolled coil in Europe, sources have told Fastmarkets.

Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?487.61 ($572.17) per tonne on Wednesday September 23, up by ?,?2.26 per tonne from ?,?485.35 per tonne on Tuesday.
The index was up by ?,?4.99 per tonne week on week and by ?,?43.86 per tonne month on month.
Wednesday's index was based on deals heard at ?,?485-495 per tonne ex-works, achievable prices estimated by market sources at ?,?480-495 per tonne ex-works and offers reported at ?,?480-500 per tonne ex-works.

Although some of the region's steelmakers have been offering HRC as high as ?,?520-530 per tonne, these offers were not included...

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