This price stability, however, has mainly been supported by the lack of trading and prices were likely to drop sharply when buyers return to the market, they added.
To compensate for the lack of domestic demand, some European mills have started to offer HRC to the export markets.
Fastmarkets’ daily steel hot-rolled coil index, domestic, exw Northern Europe
, was €473.00 ($510.96) per tonne on Wednesday, down by €1 per tonne from €474.00 per tonne ex-works on March 24.
Wednesday’s index was calculated based on offers prices heard at €470-480 per tonne ex-works, as well as “workable” prices estimated by market sources at €460-470 per tonne ex-works.
No deals have been heard in the market. Buyers were reported to...