European HRC prices will start increasing

According to SteelRadar data, HRC prices fell in most countries across Europe, particularly in Southern Europe. Prices in Spain continued to trade at EUR660 this week, down EUR70 from EUR70 on 22nd April, while the Italian HRC market fell by EUR10 to trade at EUR625 this week.

Sources stressed that producers were looking for higher prices, while customers were more inclined to build up stocks. Looking ahead, sources said that there would be no further decline after the fall in prices and predicted that prices would rise in the coming days.

In Germany, which is in Northern Europe, HRC prices fell by EUR 10 this week and were quoted at EUR 625. Sources also predicted a gradual increase in HRC prices in Northern Europe: "End user demand remains sluggish, so large price increases are unlikely to be accepted. However, in the absence of an import alternative, small steps up to EUR 10-15-20 per tonne are quite possible," the sources added.