Trading slow in European HRC market last week; mood turns cautiously bullish

November 02, 2021 / www.metalbulletin.com / Article Link

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...

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