The price of hr coils in Europe keeps rising

Affected by the shortage of raw materials and demand recovery, European hr coils prices continued to rise this week. The ex factory price of Nordic steel plants is generally 900 euro / ton (about 1068 US dollars / ton), which rose nearly 60 euro / ton (about 70 US dollars / ton) last week. ArcelorMittal raised the price of steel sheet products by 20 euro / ton (about 24 US dollars / ton) on Friday. At present, the quotation of hot rolled coil is increased to 920 euro / ton (about 1092 US dollars / ton), and the quotation of cold rolling and hot dip galvanizing is increased to 1070 euro / ton (1270 US dollars / ton).

In addition to the shortage of resources in the region, the recent import resources are also very limited. Recently, the price of hr coils in the United States is much higher than that in Europe, and Turkey tends to sell goods to the United States. As a result, India is the only import choice for hr coils in Europe. However, India's hr coils export quota to Europe in the second quarter is running out, and the European market can only wait for India's offer in the third quarter. Domestic and foreign supply is limited, demand is not reduced, European hr coils prices this week will probably continue to rise.