According to market sources, domestic producers' hot rolled coil (HRC) prices in northern Europe are currently at around €480/mt ($538/mt) ex-works, down €10/mt compared to two weeks ago.
The market continues to suffer from the slowdown of the automotive sector, while the outlook remains very cautious for order books due to the approaching seasonally-slower summer period. Domestic buyers continue to purchase only what they need. In this context, European mills have a little chance of increasing their prices, even though raw material costs have risen since Vale's dam disaster in Brazil in late January.
Meanwhile, HRC prices trended sideways in the Italian market in the past week due to the Easter holiday and so they are still at €455-465/mt ($510-521/mt) ex-works.
€1 = $1.12