EUROPE HRC: Domestic prices dip further

Domestic prices for hot-rolled coil dropped in Northern Europe and Italy on Friday September 24 on limited trading, sources told Fastmarkets.

Buyers have mostly been taking a "wait-and-see" strategy in anticipation of further price falls. In addition, market participants said most buyers already have sufficient stocks to last until the end of the year.
Lower demand for steel from the automotive industry, largely caused by the global shortage of semiconductors, has also contributed to the bearish sentiment. And the lack of demand from car manufacturers is likely to release additional volumes of flat steel to spot buyers, sources said.

Market participants said they now...

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