The upward pressures escalating raw materials costs are bringing to bear on steel prices have intensified this month, and especially large sheet price increases have been seen in Europe and Asia in the last few weeks. Further hikes in delivered spot iron ore prices, for instance, but also sheet demand strength have spurred further steel sheet list price increases by major Chinese domestic mills. With demand conditions in the seasonally strong second quarter supportive of realising further price increases, hot-rolled coil has now risen to RMB4,580/tonne, ex-Shanghai warehouse.
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