Trading activity slow in EU HRC market in week to November 19; Q4 rolling still available at low prices

Trading activity in the European hot-rolled coil market was slow in the week to Friday November 19, with mills still able to offer volumes of fourth-quarter production coil at low prices.

Northern European steelmakers have been offering for fourth-quarter-rolling HRC at discounted prices. Coil for prompt shipment became available in the spot market at reduced prices because it was originally intended for shipment to buyers in the automotive sector under long-term agreements.
In the south, Italian mills have also been able to trade limited volumes of December production coil at lower prices.

Demand from carmakers has fallen by about 30%, market participants said, because the global shortage of semiconductors meant that they could not produce the usual numbers of...

Published

Maria Tanatar

November 22, 2021

16:40 GMT

London