European steelmaker hikes domestic HRC prices further ahead of holidays
A steel major in EU has increased prices by around EUR 20-30/t exw to around EUR 740-750/t exw ($809-820/t) against EUR 710-720/t exw ($776-787/t) for Mar'24 delivery. Despite sluggish demand from end-users, there has been a price increase. Market discussions suggest that mills have achieved some success in negotiating long-term contracts with original equipment manufacturers in the automotive sector this week.