Poor demand drives domestic HRC prices lower in Europe

European steelmakers accepted lower prices for hot-rolled coil from domestic buyers on Monday December 6, in an attempt to secure deals, sources told Fastmarkets.

Market activity has been quiet in late November and early December, with spot buyers waiting for long-term contracts to be settled with end consumers, including those in the automotive industry. Although market participants had anticipated a pick-up in demand in December due to restocking by distributors, many continued to hold back due to falling flat steel prices.

Reduced steel...

Published

Maria Tanatar

December 06, 2021

16:54 GMT

London