The surge in rebar prices took Europe by surprise, but now HR coil prices are on track to catch up. The surprise this year has been all the greater because wide swings are much more common in the coil business than in the more placid bar market. Now the question is whether this strong beginning for the year foretells a year of high prices in either market. The charts compare what has happened in recent years in the EU HR coil and rebar markets by setting the percentage changes between the final quarter of one year with the first quarter in the next (so the bar for "2000" compares Q4 1999 with Q1 2000) and then looks at where the price went over the next 12 months. So the annual bar for 2000 compares the price in Q1 2001 with the price in Q1 2000.
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