HR coil prices continue upward trend, says The Steel Index

HR coil prices continue upward trend, says The Steel Index

Tuesday, 07 July 2009

The latest reference prices from The Steel Index show that there was a strong movement upwards in HR coil prices in Europe since last week, and US HR coil prices consolidated after last week’s rise.
Turkish domestic prices also increased above last week’s price levels, as did Chinese export prices.
The HRC ex-works reference price in northern Europe rose by €20/tonne since last week, and is now at €398/tonne ($557/t). Both the CRC and HDG prices are broadly unchanged since last week. Average lead-times for all coils are similar to last week and are all around 7 weeks.In southern Europe, HRC increased by €16/tonne. CRC and HDG rose by similar amounts and CR coil ex-works reference price is €435/tonne ($609/t).
All coil deliveries are more than a week shorter than last week, with HRC average delivery time at 4.8 weeks.
The US HRC reference price FOB Midwest mill is now at $436/short ton ($481/tonne), while CRC rose by $11/short ton from the previous week’s levels. The average delivery lead-time for HDG coils is longer than last week at 7.3 weeks.Domestic Turkish CRC and HRC prices, ex-works, are both higher than last week, with HRC now up by $19/tonne to $545/tonne. For Chinese coil exports to Europe and North America, HR coil export prices moved upwards, with the reference price, FOB stowed China port, now at $505/tonne.

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