In the meantime, domestic HDG prices in the region have been largely stable over the past week with demand remaining low, market participants said on Thursday January 24.
“The market is very quiet and buyers are waiting for the definitive decision in the safeguard case to come into force before they make new deals,” a German source said, referring to the European Commission’s investigation into steel product imports.
“Most people are waiting for the official safeguard documents. And a lot of companies, particularly end-users such as the automotive industry, are opposed to the upcoming measures,” a Northern European source said.
“Stocks are high but, sooner or later, restocking will have to be done,” he added. “Mills are expecting more orders from the automotive sector because more...