EUROPE CRC: Prices down on weaker automotive demand

Domestic prices for cold-rolled coil in Europe moved down in the week to Wednesday September 22, due to reduced demand from the car industry, sources have told Fastmarkets.

Car manufacturers in the EU were likely to consume fewer flat steel products than previously expected because of the global shortage of semiconductor chips for vehicles’ onboard electronics.
As a result, some volumes that originally had been planned for sale to car manufacturers under long-term agreements have been redirected to the spot market.

The increased availability of domestic coil, combined...

Published

Maria Tanatar

September 22, 2021

15:45 GMT

London