Fastmarkets calculated its daily steel hot-rolled coil index domestic, exw Northern Europe, at €645 ($695) per tonne on Wednesday, up by €1.67 per tonne from €643.33 per tonne on Tuesday.
The Northern European index was up by €7.50 per tonne week on week and by €18.75 per tonne month on month.
A leading European integrated mill continued to offer June-delivery coil at €680 per tonne ex-works or delivered, depending on the destination, Fastmarkets heard.
Offers at €640-660 per tonne ex-works for May/June-delivery HRC were also available in Northern European market, sources told Fastmarkets.
Some transactions were reported at €640-650 per tonne ex-works, with buyers estimating the tradeable market price close to these levels.
“Mills in Northern Europe are well-booked for May and some small volumes are available for June,” a producer source told Fastmarkets.
The producer source added that limited supply caused, on one hand, by problems at some domestic mills, and on the other, by the decreased interest in buying imported HRC due to trade risks, have supported domestic prices.
Restocking has also been more active these days, according to the producer source.
The source added that they expected prices to rise further in the next quarter of the year.
But buyers were more skeptical.
“I do not see a significant price increase as being possible because the European economy is still not performing well,” a distributor source based in Germany told Fastmarkets.
In Southern Europe, meanwhile, Fastmarkets’ daily steel hot-rolled coil index, domestic, exw Italy, was calculated at €624 per tonne on Wednesday, down marginally by €0.17 per tonne from €624.17 per tonne on Tuesday.
The index was up by €1.50 per tonne week on week and by €13.79 per tonne month on month.
Italian suppliers were heard offering HRC at €620-640 per tonne ex-works.
Buyers, however, estimated the workable market level to be slightly lower, at €610-620 per tonne ex-works.
The market for imported HRC remained largely quiet.
Indonesia was heard offering the lowest price for imported material in the European market at €640-650 per tonne CFR Italy.
The levels offered to Northern Europe were slightly higher, Fastmarkets understands. Sources reported Indonesian offers of HRC at €580 per tonne CFR Antwerp.
Turkey continued offering HRC to Europe at €590-600 per tonne CFR, industry sources told Fastmarkets.
India was heard offering HRC to Italy at €565-575 per tonne CFR.
But buyers were reluctant to book HRC from imports due to the trade risks and the long delivery times, Fastmarkets understands.
