EUROPE HRC: Domestic prices slide; buyers hold back from making new deals

Domestic prices for hot-rolled coil fell in Northern Europe and Italy on Wednesday October 13 with both buyers and sellers preferring to adopt a wait-and-see strategy, sources told Fastmarkets.

Trading activity was expected to recover in November, however, according to market participants. Although the majority of European distributors have sufficient stocks to last until the year-end, they will need to restock soon for the first quarter of 2022.

The negative mood in the market has been supported by weak demand from the automotive sector, whose output has been cut because of the shortage of semiconductors, and this has contributed to the general negative sentiment. Market sources reported that mills supplying the automotive sector have booked...

Published

Maria Tanatar

October 13, 2021

15:22 GMT

Dnipro