EUROPE HRC: Domestic prices in Europe head to the bottom

The European hot-rolled coil market has been under pressure from slow trading and prices are likely to reach the ‘bottom’ soon, sources told Fastmarkets this week.

Demand has been low due to a combination of a seasonal slowdown and high stocks at European distributors. Interest in imported coil has been limited due to long lead times and uncertainty over the definitive decision in a safeguarding case, which is expected in late January-early February. The EC imposed preliminary measures in a safeguarding case on July 18, in the form of tariff rate quotas on 23 steel product categories, based on average import volumes over the past three years. Imports face a 25% tariff if the product quotas are exceeded. “It is...

Published

Maria Tanatar

December 06, 2018

17:22 GMT

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