EUROPE CRC: Slump in automotive demand drives down prices

Domestic prices for cold-rolled coil in Europe moved down in the week to Wednesday October 20, due to reduced demand from the car industry, sources told Fastmarkets.

Automotive industry output - and, consequently, demand for steel - has fallen due to a global shortage of semiconductors.
Market sources told Fastmarkets that demand for flat steel from the auto industry had dropped by about 30% compared to normal volumes for this time of year. Some sources also said they expect some carmakers to halt production at their European sites this year, causing demand from the segment to slump further.

The decline in demand...


Maria Tanatar

October 21, 2021

08:51 GMT