While economic conditions remain unfavourable in the larger markets, particularly in Germany, short to medium term conditions have become more optimistic as demand continues to increase.
Some European producers are pushing for EUR 700/mt EXW Ruhr or delivered Northern Europe prices. Workable levels are reported to be lower, but buyer sources said that it will be difficult to get cargoes from producers in the region below EUR 670/mt EXW Ruhr in the spot market.
The Italian market also started to trade at higher levels with several buyers reporting EUR 640-650/mt EXW Italy for HRC.
However, sources said that actual buying in the Italian market has not started yet and is expected to start next week.
Producers' announcements in mainland Europe were echoed in the UK market, but UK buyers said they are still waiting to receive revised offers for imports ex-EU.
HRC EXW Ruhr was up €5/mt to €670/mt on 31 August, while HRC EXW Italy was up €5/mt to €640/mt on 31 August.
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