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Trade weakened in European HRC markets

End-user demand for hot-rolled coil steel remains weak across Europe.

Trade weakened in European HRC markets

The daily domestic hot-rolled coil steel index excluding Northern Europe was calculated at €680.00 ($741.76) per tonne on Monday, up €5.90 from €674.10 per tonne on 30 June.

The latest calculation of the Northern Europe index was also up €7.50 per tonne on the week, but down €57.08 per tonne on the month.

Sources said that market conditions in Northern Europe remained largely unchanged, with demand slow and transactions low.

However, some expected prices to remain largely unchanged throughout July, while others forecast limited restocking in the first half of the month.

Producers in Northern Europe have started to offer coils for August-September delivery, sources said.

The daily domestic hot rolled coil sheet index, excluding Italy, was assessed at €650.00 per tonne on Monday, unchanged from 30 June.

However, Italy's index increased by €3.75 per tonne on a weekly basis and decreased by €30.00 per tonne on a monthly basis.

Sources in Italy also expect to see limited restocking in the first half of July.

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