EUROPE HRC: Buyers, sellers hold back from trading to gauge market trend

August 25, 2021 / www.metalbulletin.com / Article Link

Domestic prices for hot-rolled coil were fairly stable in Northern Europe and Italy on Tuesday August 24 with both buyers and sellers holding back from trading activity, sources told Fastmarkets.

Buyers started to return to the market this week after a slow period earlier in August, but no deals have been heard yet because the buyers wanted to assess the market trend first.

They believed that the decline in raw material costs, some cheap import offers heard during August and the continuing shortage of semiconductors, which was limiting car manufacture, would result in a price decline. In addition, steelmakers Salzgitter and Thyssenkrupp were both planning...

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