Market sources state that hot rolled coil (
HRC) demand in the
UK has strengthened this month as compared to previous months. Market players believe that demand in the second quarter of the year will show an improvement compared to the first quarter.
HRC prices in the local
UK market are at £410/mt ($689/mt) ex-works for May production and excluding 20 percent VAT, indicating a decline of £10/mt ($17/mt) over the past month, while local hot rolled sheet (HRS) prices are stable at £440-470/mt ($739-790/mt) ex-works, excluding 20 percent VAT and for April delivery.
Meanwhile,
HRC offers from
Russia to the
UK stand at £390-395/mt ($655-664/mt) CIF for shipments in July, decreasing by £15/mt ($25/mt) since last month. In addition, Chinese
HRC offers to the
UK stand at £385-390/mt ($647-655/mt) CIF for July shipment.
£1 = $1.68