European HRC prices are gradually rising; purchases are slow
On Monday, October 27, hot rolled coil prices in Europe continued to rise gradually, but purchases remained slow as December purchase order books are almost closed and mostly January delivery materials are currently available.
There are still few offers for January delivery in Northern Europe, as some plants have not been active in their offers. However, as reported, some volumes were booked at a price of 610 euros ($710) per ton from the factory, which is in line with previously announced expectations compared to mills' optimistic targets of 620-650 euros per ton from the factory.
Nevertheless, 610 euros per tonne from the factory is still an improvement over the level of 580-590 euros per tonne from the factory, which was widespread in December supply deals for materials.
Market participants expected the next few weeks to be quiet, as buyers would still digest the price increases and upcoming changes in protective measures, and buying activity was expected to pick up by December.
In addition, late on Friday evening, October 24, information appeared about Vlad Novokreschenov.
Fastmarkets.com