EUROPE HRC: Domestic prices unchanged in slow market

The domestic price for hot-rolled coil in Northern Europe remained unchanged day on day on Monday December 23, sources told Fastmarkets.

Market activity has been low due to seasonal slowdown during Christmas holiday period in Europe but is expected to start to recover in the second week of January.

Fastmarkets’ daily index for steel hot-rolled coil index domestic, ex-works Northern Europe was stable at €439.39 ($486.49) per tonne on Monday.

The calculation of the index was based on latest deals and achievable prices, which were reported at €435-440 per tonne ex-works.

Offers for domestic material in the region have been heard at €440-450 per tonne ex-works.

Prices are expected to remain unchanged until the first half of January.

Despite the pause in market activity, sentiment remains positive and domestic prices are expected to rise in January due to production cuts in Europe and a lack of competitive import offers.

In Germany, ArcelorMittal and Salzgitter have announced stoppages to balance supplies, as have SSAB in Sweden and Arvedi in Italy. Other steelmakers are also managing coil product output to meet demand, sources said.

Fastmarkets’ daily index for steel hot-rolled coil index domestic in Northern Europe moved up by €7.76 per tonne since the beginning of December.

Fastmarkets’ weekly price assessment for steel HRC, import, cfr main port Northern Europe, was €445-450 per tonne on December 18, week, reflecting the latest deals and offers for the material.

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