Domestic prices for hot-rolled coil (HRC) in the EU have been largely unchanged over the past week, with buyers showing reduced interest in imported material, sources told Metal Bulletin on Wednesday May 9.
"Buyers are cautious when it comes to buying imported coil, because there are rumors that the EC will impose preliminary measures in a safeguard case within several weeks," a Southern European source said.The European Commission (EC) opened a safeguard investigation into 26 steel products on March 26 in an attempt to prevent the redirection of steel shipments, originally destined for the United States, to the EU market. Among other products, the case will look into hot-rolled steel sheet and strip.The steel shipments could be diverted away from the US because of that country's new import tariff of 25% on steel products, imposed after its Section...