EUROPE HRC: Gloomy market sentiment on slow buying activity

The domestic prices for hot-rolled coil (HRC) in Europe have moved down slightly over the week although market sentiment is largely negative, sources told Fastmarkets.

The only positive factor supporting domestic prices was high import offers, but it is unlikely to help EU mills to keep prices stable, market participants said. Buying activity has been low, with some buyers who had their stocks decrease in no hurry to make new deals. Yet pressure on steelmakers has been mounting with delivery times getting shorter. Southern Europe Fastmarkets’ weekly price assessment for domestic HRC in Southern Europe was €455-485 ($513-546) per tonne ex-works on Wednesday April 10, compared with €460-490 per tonne ex-works a week earlier. Italian steelmakers have reportedly offered and traded HRC at €455-470 per tonne ex-works depending on volumes,...

Published

Maria Tanatar

April 11, 2019

11:55 GMT

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