EUROPE HRC: Domestic prices stable after previous week's drop

Domestic prices for hot-rolled coil (HRC) in Northern Europe and Italy were broadly stable on Monday September 27, with buyers holding back from trading after prices fell the week before, sources told Fastmarkets.

Spot buyers have refrained from making deals due to high stocks. They expect domestic prices to decrease further and supply to remain sufficient.
Automotive manufacturers, which typically purchase coil under long-term agreements, have also held back from negotiating 2022 contracts due to the anticipated price fall and uncertainty over demand.

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