Some market sources predict that European producers will increase prices to the level of 900 Euro/mt Ruhr.
On March 24, Northwestern European local hot-rolled product prices were assessed at 850Euro/mt Ruhr, a decrease of 5Euro/mt compared to the previous week.
Long supply times from European manufacturers and high local prices have caused buyers, especially in Italy, to be more interested in imported roll. Turkish manufacturers remained inactive in the European market after the earthquake, but North African suppliers were able to offer shorter delivery times similar to those of European manufacturers. Asian manufacturers, on the other hand, have started bidding for the August rolling coil.
HRC offers from North Africa were reported at Eur 760-780/mt CIF Antwerp and Eur 780-800/mt CIF Antwerp from Asia.
In Southern Europe, HRC offers from Asia are at 750-770Eur/mt CIF Italy.
In Southern Europe, local hot rolled coil prices were quoted as EUR 830/mt Italian ex-works.
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