EUROPE HRC: Domestic prices stable as buyers hold back

Domestic prices for hot-rolled coil (HRC) in the EU have been largely stable over the past week, with buyers holding back from new deals after booking sufficient volumes earlier, sources have told Metal Bulletin.

“Second-quarter production coil is well sold, so buyers are in no hurry to make new deals until a new trend in the market becomes clear,” a German trader said.
In the meantime, prices are unlikely to move downward because there is support from trade defense measures and the limited output from Italian steelmaker Ilva. In addition, import offers are not putting any pressure on domestic prices.

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Maria Tanatar

February 28, 2018

17:28 GMT