EUROPE HRC: Demand slows on anticipated price fall

Activity in the European hot-rolled coil market was low on Thursday January 21 because buyers are holding back from making new deals due to an anticipated price fall, sources told Fastmarkets.

Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?713.00 ($864.26) per tonne on Thursday, down by ?,?2.50 per tonne day on day from ?,?715.50 per tonne on Wednesday.
The index was still ?,?7.88 per tonne higher week on week and ?,?52.60 per tonne higher month on month.
The calculation of today's index was based on indications for achievable prices and deals heard at ?,?700-730 per tonne ex-works.
In Southern Europe, Italian buyers reported achievable prices and transactions at ?,?700-715 per tonne ex-works.

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