“I expect movement in the coming weeks,” a distributor source in Northern Europe said, adding that both buyers and sellers were “delaying decisions” into the beginning of next year while they await more clarity from the market after the year-end holidays.
In Northern Europe, estimates of workable prices for HRC were heard at €610-625 ($709-727) per tonne ex-works, while an offer was heard around €630-635 per tonne ex-works.
No deals were heard during the day on Monday.
Fastmarkets’ daily steel hot-rolled coil index, domestic, exw Northern Europe, was €622.25 per tonne on Monday, down by €0.25 per tonne from €622.50 per tonne on December 5.
The index was up by €3.50 per tonne week on week and by €15.58 per tonne month on month.
Meanwhile, in Italy, a source said that the local market was “stalling” while it awaited “potential increases” to prices in the coming weeks.
No fresh deals were heard on Monday. Estimates of workable prices were heard within the range of €600-610 per tonne ex-works.
Fastmarkets’ daily steel hot-rolled coil index, domestic, exw Italy, was calculated at €611.25 per tonne on Monday, down by €2.08 per tonne from €613.33 per tonne on December 5.
The index was up by €7.84 per tonne week on week and by €15.25 per tonne month on month.
