Domestic prices for hot-rolled coil increased across the European Union during the week to Friday October 29, despite limited trading activity in the spot market.
European steelmakers have been focused on settling long-term agreements with big buyers, such as the automotive and white goods sectors. As a result, they have not been active in the spot market.
At the end of last week,
ArcelorMittal announced it was targeting ?,?1,080 ($1,248.54) per tonne ex-works for HRC for the first quarter, first half and full year of 2022. Other Northern European mills are aiming for a similar price.
Market sources believe that long-term...