EUROPE HRC: Transaction prices start to rise across Europe

European producers of hot-rolled coil have achieved a transaction price increase supported by the lack of import offers and a degree of demand improvement, sources told Fastmarkets on Wednesday July 1.

The definitive decision in the EU's safeguard measures review on June 30 will also support domestic prices, market sources said. The European Commission has decided to replace yearly country-specific quotas with quarterly quotas, among other changes.
Some suppliers, such as India, have withdrawn their offers from the market because they believed that their third-quarter quota was filled by orders they took earlier and that would soon arrive in Europe.
Others have been offering HRC for September shipment, meaning that some suppliers will not use their third-quarter quota and volumes ordered now will reach the EU border in the last quarter of 2020.
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Northern Europe

Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was calculated at ?,?400.00 ($449.13) per tonne on July 1, up by ?,?3.12 per tonne day on day from ?,?396.88 per tonne on June 30, and up ?,?5.63...

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