EUROPE CRC: Market sentiment falls, buyers hold back but prices still stable

The mood in the European cold-rolled coil market has shifted from upbeat to an expectation for price stability in the short term followed by a negative price correction in the medium term, sources told Fastmarkets on Wednesday June 9.

European mills continued to benefit from strong order books. Only a few steelmakers have limited volumes of fourth-quarter-rolling CRC available for spot buyers.
As a result, market sources believed that prices were likely to remain fairly stable in the short term. Domestic coil prices, however, were expected to start gradually to decline later this year due to weakening demand from the automotive sector and more competitive import offers, according to market participants.

“Demand is...

Published

Maria Tanatar

June 10, 2021

13:57 GMT

London