Fastmarkets calculated its daily steel HRC index, domestic, exw Northern Europe, at €677.50 ($735.26) per tonne on Tuesday, up by €0.83 per tonne from €676.67 per tonne the previous day.
The index was up by €7.50 per tonne week on week and by €47.08 per tonne month on month.
Early in the week, Northern European mills were reported to be seeking a price of €720-730 per tonne ex-works for February-delivery HRC, Fastmarkets heard.
Meanwhile, buyers’ estimates of tradeable values were heard at €670-680 per tonne ex-works in the region.
Buyers were relatively bullish regarding possible price rises, but they did not consider prices higher than €700 per tonne exw to be workable given the current weak demand levels.
Meanwhile, Fastmarkets calculated its daily steel HRC index, domestic, exw Italy, at €665.00 per tonne on Tuesday, down by €5.00 per tonne from the calculation at €670.00 per tonne on Monday.
The Italy index was up, however, by €5.50 per tonne week on week and by €40.00 per tonne month on month.
Italian mills were reported to be offering February-delivery material at €700-705 per tonne ex-works, while buyers’ estimates of achievable prices were reported at €660-670 per tonne ex-works.
Participants in the Italian HRC market were optimistic regarding future price rises, supported by increased demand and constrained supply.
No new import offers were reported.
Published by: India-Inés Levy