EUROPE HRC: Buyer sentiment down, but mills to attempt price rise

Domestic hot-rolled coil prices across Europe were stable on Friday October 22, after declining earlier in the week, sources told Fastmarkets.

Bearish sentiment among buyers in northern Europe and Italy was driven by reduced demand from the automotive industry caused by the ongoing global semiconductor shortage and competitive import offers from Central Europe.
Automotive steel consumption is estimated to have dropped by about 30%, market sources said. Additional volumes have also been released in the European spot market.

Market participants have suggested that some major automakers are considering...

Published

Maria Tanatar

October 22, 2021

15:04 GMT

Dnipro