In Europe, prices of hot-rolled coil steel remained stable in the past day in a generally unchanged trading conditions. In regions outside Northern Europe, the domestic daily steel HRC (Hot-rolled coil) index was reported at €677.50 ($735.26) per tonne, up €0.83 per tonne from the previous day's index of €676.67 per tonne. On a weekly basis, the index increased by €7.50 per ton and on a monthly basis by €47.08 per ton.
It was reported at the start of the week that North European producers were trying to set ex-works prices for HRC for February delivery in the range of €720-730 per tonne. However, given the weak demand levels, buyers considered prices higher than €700 per tonne unreasonable.
The local daily HRC index for steel ex-Italy was €665.00 per tonne on Tuesday, down €5.00 from €670.00 per tonne on Monday. On a weekly basis, the index increased by €5.50 per tonne and on a monthly basis by €40.00 per tonne.
Italian producers were reported to be asking €700-705 per tonne for February delivery, while buyers were quoting ex-works prices of €660-670 per tonne.
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