EUROPE HRC: Poor automotive sector demand, big import volumes at ports push prices down

European buyers of hot-rolled coil were holding back from making new deals on Monday September 20 on expectations of a price decline, sources have told Fastmarkets.

Negative sentiment has been generated by reduced demand for flat steel from the automotive sector. European car manufacturers were unlikely to consume coil at the rate previously expected because of the global shortage of semiconductor chips for vehicles’ onboard electronics.
In addition, buyers were waiting for the start of a new EU import quota period on October 1.

When that begins, massive volumes of...

Published

Maria Tanatar

September 20, 2021

16:30 GMT

London