EUROPE HRC: Market mood stays dark on limited trading

The outlook for EU domestic prices for hot-rolled coil (HRC) remained gloomy due to slow buying activity, sources told Fastmarkets on Thursday March 21.

But despite the lack of activity, European steelmakers have been trying to keep prices steady, according to market participants. “There is a tremendous fight between the big service centers because the automotive industry is taking less material and stocks [among distributors] are high,” a Northern European source said. “The market is not not accepting higher prices, but mills are being stubborn and are trying to maintain prices levels,” he added. The number of new passenger car registrations in the EU decreased by 0.96% year-on-year in February 2019, to 1,114,692 units, making it the sixth consecutive month...

Published

Maria Tanatar

March 21, 2019

19:12 GMT

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