Domestic prices for hot-rolled coil were fairly stable in Europe on Friday June 11 despite slower demand and a weakening of import prices, sources told Fastmarkets.
The domestic prices were supported by good order books at EU mills. Producers in Northern Europe were heard selling fourth-quarter-rolling material, although Italian mills were still able to offer volumes for shipment at the end of the third quarter.Although coil availability was still limited, market sources said that demand from the automotive sector had dropped off slightly because of a lack of semiconductors for cars' on-board computers that has created a bottleneck among vehicle manufacturers. As a result,...