Europe HRC steel to raw materials spreads rise in Oct on steel prices

摘要

London—European hot-rolled coil steel to raw material price spreads rose further in October to a one-and-a-half-year high, as steel producers secured further increases in spot steel prices to indicate a return to profitability. The Northwest European HRC steel to raw materials spread averaged Eur278.16/mt ($328/mt) in October, rising 10% from September, according to S&P Global Platts estimates Nov. 2. Spreads increased from Eur252.89/mt in September, and lower levels of Eur208.50/mt in August and Eur194.50/mt in July, Platts estimates showed. The spread is the highest since January 2019's Eur291/mt. The HRC-steel raw materials gage has passed expected breakeven of around Eur250/mt for regional steel plants’ production of commodity grade steel.