Domestic prices for cold-rolled coil in Europe moved down slightly in the week to Wednesday August 25 with sentiment among buyers turning negative, sources told Fastmarkets.
Buyers believed that prices would go down because of the sharp decline in iron ore costs last week, competitive import offers and the continuing shortage of semiconductors, which was limiting car manufacture."Automotive production may break down soon thanks to the shortage of semiconductors, so demand will drop. That will relieve the shortage in some rolled products temporarily, but it may also put pressure on prices...