EU HRC buyers hold back from trading on lack of clear trend

Trading in the European hot-rolled coil market remained slow on Monday November 15, with buyers in wait-and-see mode, sources told Fastmarkets.

Distributors have been holding back from making deals until the price trend becomes clear.
European producers have been offering first-quarter-rolling coil at high prices, insisting that the increase is necessary due to higher energy and emission costs. In addition, some sources said producers have already achieved some higher coil prices, reflected in long-term contracts with the automotive industry.

At the same time, European steelmakers continued to offer limited volumes of fourth-quarter-rolling HRC at low prices. The discounted material was available due to the slump in demand from the automotive sector, which forced producers to redirect material to the spot market. Demand...

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