EUROPE HDG: Buyers hold back from new deals on poor market sentiment

European buyers of hot-dipped galvanized (HDG) coil have been watching the market in expectation of a price reduction, sources told Fastmarkets on Thursday November 29.

Buyers have mostly been holding back from making purchases while hoping for a clearer market trend to emerge.
“Prices are under pressure, for sure,” a Northern European source said. “Demand from [the] automotive [sector] is slowing down and mills expect to sell reduced volumes to automotive [manufacturers] in 2019. So some mills are selling more to other consumers as an alternative.”

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Maria Tanatar

November 29, 2018

17:40 GMT