EUROPE HRC: Domestic prices stable despite activity slowdown

Domestic prices for steel hot-rolled coil in Northern Europe and in Italy were largely stable on Wednesday July 7 at high levels, despite a market slowdown and increased availability of the material, sources told Fastmarkets.

Buyers have been holding back from making new deals, preferring instead to take the time to assess the price trend before making orders for material that would be delivered at the end of 2021.
Long lead times from domestic producers, sufficient stocks among buyers for the next couple of months and exhausted credit lines - the result of high prices for finished steel - have all contributed to buyers' decisions to stick to the sidelines of the market.
Over the past couple of weeks, only a handful of deals have been heard for small tonnages of HRC, each of about 200-300 tonnes. The transactions were mainly made for back-to-back business or to restock a specific material, market sources said.

Availability of material has increased due to volumes being cleared through customs, after...

Gold stocks rocket to new highs, valuations no longer inexpensive

Tariff issue caused by potential definition change of traded gold bars

US BLS head removed after revisions to employment data

Gold stocks down even as metal price rises

Copper market distortions driven by new US tariff policies