Market sources state that hot rolled coil (
HRC) demand in the
UK has remained weak, while import offers to the country have attracted little interest. Following the price reduction in the European markets, buyers in the
UK HRC market are reluctant to conclude new bookings at the moment due to expectations for lower prices in the country.
HRC prices in the local
UK market can still be found at £420/mt ($697/mt) ex-works for April production and excluding 20 percent VAT, indicating no changes over the past month, while local hot rolled sheet (HRS) prices have declined by £10/mt ($17/mt) and are now at £445-460/mt ($739-764/mt) ex-works, excluding 20 percent VAT and for March delivery.
Meanwhile,
HRC offers from other regions of Europe to the
UK stand at £410-415/mt ($681-689/mt) CIF for shipments in May, stable since last month. In addition, Russian origin
HRC offers to the
UK stand at £405-410/mt ($672-681/mt) CIF for May shipment.
£1 = $1.66