According to market sources, HRC prices in northern Europe are mostly at €450-460/mt ($495-506/mt) ex-works, down €10/mt week on week. The market remains very weak, while there is also pressure coming from import material at competitive prices. European service centers’ stocks are not at high levels, but the service centers consider them to be adequate compared to demand and are unwilling to buy in view of the declining prices. Most market sources fear domestic prices will decrease further in the fourth quarter due to increased imports and the unlikelihood of a significant revival in the European automotive sector.
€1 = $1.1