European end-users of steel have adopted a wait-and-see approach on exhausting credit lines and weak purchasing power, which led to restocking activities slowing down. However, manufacturers are trying to preserve profitability and are anticipating that bids are likely to lower due to dull demand. As on 10 May’22, Europe’s HRC prices were heard at around EUR 1,170/t ($1,217/t) exw northwestern Europe and EUR 1,125/t ($1,170/t) exw for Italian HRC.
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