Fastmarkets' price index for domestic steel hot-rolled coil in Northern Europe went down day on day on Tuesday September 7 with the outlook among buyers turning negative, Fastmarkets has heard.
Buyers have been holding back from trading because they wanted to take time to monitor the price trend. They expected that volumes of coil products available in the spot market would increase due to poor demand from the automotive industry, whose purchases are mainly settled in long-term contracts.There were several reports of carmakers working at reduced rates because of the persistent...