EUROPE HRC: Domestic prices pick up before market goes quiet for August

Domestic prices for hot-rolled coil (HRC) in Europe have moved up over the past week, supported by the effects from the recent regional safeguard case, sources told Metal Bulletin on Wednesday August 8.

The European Commission (EC) imposed preliminary measures in a safeguard case on July 18, in the form of tariff rate quotas (TRQs) on 23 steel product categories, based on average import volumes over the past three years. Imports will only face a 25% tariff if a quota is exceeded. Imported HRC is included in the product list.
Domestic prices are expected to move up further in September when the market is expected to recover from the seasonal summer slowdown. In August, prices are expected to remain stable due to weak market activity, according to market sources.

Although buyers have shown stronger interest in imported HRC over the past week, the prices were not low enough to harm domestic...

Published

Maria Tanatar

August 08, 2018

17:00 GMT

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