Domestic prices for hot-dipped galvanized (HDG) coil in Europe resumed their downward trend this week, but have now "reached the bottom," sources told Fastmarkets.
Market participants said that prices moved down this week on slow trading because buyers have sufficient stocks.Demand, however, is expected to improve due to the restocking that is expected to start in February."Buyers will be making more deals soon, as they will need to build stocks of HDG," a Northern European trader said.In addition, domestic HDG prices will be supported by the definitive decision on the European safeguard measures on steel imports, which is scheduled to come into force by February 4.EU carmakers, one of key end users of HDG, source about...