Trading slow in European HRC market with buyers waiting for clear trend

Trading activity in the European hot-rolled coil market remained slow on Tuesday November 23, with buyers holding back from making new deals and waiting for a clear trend, sources told Fastmarkets.

In addition, European steelmakers have been focusing on negotiations for long-term contracts for 2022 with end consumers - including the automotive industry - rather than on sales in the spot market.

Producers in the north of the EU, however, have continued to offer limited volumes of cheaper fourth-quarter-rolling coil in the spot market. The discounted volumes became available due to the slump in steel...

Published

Maria Tanatar

November 23, 2021

17:22 GMT

London