European market for flat steel products remained stable. HR coil and CR coil in Northwest Europe separately stood at EUR505-515 per ton ($635-647) and EUR570-580 ($715-730) per ton (Ex-works) prices. Whereas in South Europe, prices were below EUR500 ($629) per ton for HR coil and EUR530-540($665-680) per ton for CR coil respectively.
Market participants looked unfavorable towards the increasing market.The main reason behind the condition will be delayed orders and the low imported prices. Recently, quotation of Chinese HRC stood at EUR485-490 ($609-615) per ton CFR. Meanwhile, traders are waiting for the new quotations from Arcelor Mittal. According to a market participant, it is estimated that changes in demand and price trend of steelmakers probably will be clearer, in the coming weeks
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