Domestic prices in Europe for hot-rolled coil (HRC) have been stable over the past week, supported by expectations of an imminent decision in a regional safeguard case, sources told Metal Bulletin on Wednesday June 6.
The European Commission (EC) may impose preliminary measures in its safeguard case into 26 types of imported steel products as early as July this year.The EC opened the investigation in late March, in an attempt to prevent the redirection to the EU market of steel shipments originally destined for the United States. Among other products, the case will look into hot-rolled steel sheet and strip.As a result, buyers have been mainly sourcing material from European mills to avoid risks related to any decision in the safeguard case, according to market sources.Northern EuropeMetal...