We have got used to saying that things are very different in the steel market since the crash. One remarkable change that deserves attention is the relative stability of the price differences - in the EU at least - between HR coil and CR coil. The two charts of average margins (?/tonne) in the EU look at the development through the three post-crisis years (taking the optimistic view that the recovery did indeed begin as early as 2010) and then the period from 2012 until now.
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