Across the European Union, trading activity has been limited while buyers wait for a clear market trend. Credit lines have been exhausted over the past few months due to high prices and long lead times, restraining buyers' purchasing ability.
Producers, in the meantime, have been holding back from making offers, either offering fourth-quarter-rolling coil or having sold out of 2021 production material.
Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe
at €1,163.25 ($1,370.58) per tonne on Wednesday, down by just €0.75 per tonne from €1,164.00 per tonne on July 20.
The index was down by €13.50 per tonne week on week and down by €7.75 per tonne month on month.
Wednesday’s index was based on...