EUROPE HRC: Buyers hold back from trading as sentiment dips

European buyers of hot-rolled coil have been in “wait-and-see” mode so domestic prices were fairly stable on Wednesday August 4, sources have told Fastmarkets.

Sentiment in the market turned negative despite the seasonal slowdown, due to competitive import offers. Although the volumes available have not been significant, according to estimates by market participants, they will still affect sentiment in the market.

Buyers have already booked the required volumes of coil for this year so they felt no pressure to negotiate deals for next year at the moment. They were likely to return to the market in September looking for new orders, following...

Published

Maria Tanatar

August 04, 2021

16:53 GMT

London