“Some mills like ArcelorMittal are more aggressive as they need to fill orderbooks,” a trader source said. “EU HRC is workable around Eur600-610/mt EXW, and one mill recently sold a large volume at Eur600/mt EXW Ruhr.”
Some mills were also heard to have stayed firm on higher prices.
“One mill is also staying firm at Eur650-670/mt EXW Ruhr which could be why prices appear more firm,” the source said.
Sources agreed that the market fundamentals remain unchanged, with low activity and poor demand.
“Market is slow,” another trader source said. “Everybody thinks we are at the bottom. Demand is still not there. Construction and automotive sectors are not doing very well.”
Platts assessed Northwest European HRC stable on the day at Eur635/mt June 21.
Buying interest for carbon accounted HRC was heard to remain muted as well, with offers for a premium at Eur100-150/mt for variable CO2 emission levels and scopes. Platts assessed the carbon-accounted premium for HRC in Europe at Eur125/mt June 21, unchanged on the day.
