EUROPE HRC: Domestic prices dip as holidays dull trading activity

Domestic prices for hot-rolled coil (HRC) in Southern Europe have fallen slightly this week, sources told Metal Bulletin on Wednesday May 2, although the direction in which prices are moving is not entirely clear because the market has been slowed by holidays in Europe early in the week.

Domestic prices remained under pressure, with end-users still resisting price rises from distributors because they have not fully absorbed the price increases made in the first quarter of this year, the sources said.
But they have had some support from the expectation of a decision in a safeguard investigation in Europe.
The European Commission (EC) opened a safeguard investigation into 26 steel products on March 26 in an attempt to prevent the redirection of steel shipments, originally destined for the United States, to the EU market. Among other products, the case will look into hot-rolled steel sheet and strip.

“Some buyers [have held] back...

Published

Maria Tanatar

May 02, 2018

17:54 GMT

Dnepr