Adds second trade
The first trade was concluded on the CME Group's north European hot-rolled coil (HRC) contract today.
August traded at €435/t for 500t, in a deal brokered by GFI Group.
Later in the day, June traded at €420/t for 500t, again brokered by GFI. The trades come as market participants try to assess how prices will develop in the coming days.
Many mills are reducing output in response to reduced end-user demand, with automakers and others halting operations because of the coronavirus.
The CME contract, which cash-settles against the monthly average of Argus' northwest European HRC index, launched on 9 March. Liquidity has been slow to build, with business continuity impacting set-up for some participants.
By Colin Richardson
