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European domestic hot rolled coil (HRC) prices are expected to continue their upward trend for the third week in a row, trading sources told Metal Bulletin this week.
The latest deals remained around €550-560 ($720-733) per tonne delivered, with European mills expected to push for higher prices as the week progresses, traders said.
One trader marked the range lower, at €520-525 per tonne ex-works, around €530-535 on a delivered basis.
“We expect nothing but a continuing increase and significantly higher figures for April,” a second trader told Metal Bulletin.
“These current offer prices are just going to keep going up,” a third trader commented.
In the face of climbing prices, traders explained to Metal Bulletin that demand remains poor throughout Europe.
“Despite rising prices, there is still very little demand in Europe,” the first trader commented. “We are in a similar situation as this time last year.”
HRC import prices remained the same at €600-620 per tonne cfr for April delivery.
Meanwhile, domestic hot dipped galvanized coil (HDG) prices dropped slightly, with traders quoting €620-645 per tonne delivered, down by €5 per tonne from last week’s €620-645, according to Metal Bulletin’s pricing archive. HDG import prices remained stable at €640-660 per tonne cfr.
Alexandra Chapman achapman@metalbulletin.com Twitter: @AChapman_metalb