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The US steel hot-rolled coil (HRC) price on the CME hit a record high again in June, up 7.4% m-o-m
and 214.4% y-o-y to a monthly average price of USD 1,831.5/MT. Low stocks continued to support
prices as few buyers aimed to restock steel inventories due to the record prices. Concerns over
tighter supply increased further, with some automaker companies restarting idled production.
Northern Europe steel HRC reached another record, up 6.7% m-o-m and 183.2% y-o-y to EUR
1,156/MT in June on limited supply. According to market participants, most mills in north Europe can
only deliver material in Q4 2021.
The LME aluminium price fell marginally by 0.3% m-o-m to USD 2,445.8/MT in June due to market
expectations of a release in state reserves of aluminium and other base metals by China, following
high domestic prices. Nonetheless, the June average was up 54.1% y-o-y, on the back of strong global
demand attributed to a sharp global economic recovery.