European hot-rolled coil producers have remained in control of domestic prices despite mixed sentiment among buyers, market sources told Fastmarkets on Wednesday June 2.
Tight supply and long lead times from European mills combined with limited access to overseas coil have been supporting the domestic prices. A majority of European producers were reported to be sold out of third-quarter-rolling coil, and those able to offer limited volumes for April-September delivery have been trading at prices above the average market level, market sources said.In addition, distributors have been reported to have low stocks and, therefore, demand remained strong. End-consumers, however, have been less keen to...