European buyers of hot-dipped galvanized (HDG) coil have been watching the market in expectation of a price reduction, sources told Fastmarkets on Thursday November 29.
Buyers have mostly been holding back from making purchases while hoping for a clearer market trend to emerge."Prices are under pressure, for sure," a Northern European source said. "Demand from [the] automotive [sector] is slowing down and mills expect to sell reduced volumes to automotive [manufacturers] in 2019. So some mills are selling more to other consumers as an alternative."Falling demand for new cars is likely to...