Demand in the local European hot rolled coil (HRC) market is still weak amid the ongoing stagnation of activity during the summer holiday season. According to market sources, European steel producers have decreased their HRC prices for the domestic market by €10/mt ($11/mt) during the past week to €390-420/mt ($437-471/mt) ex-works, due to slack demand and in order to compete with import flat steel offers in the region.
€1 = $1.12