EUROPE HRC: Domestic prices stable despite import competition, low demand

Domestic prices for hot-rolled coil in Europe remained fairly stable on Wednesday July 28 despite slow trading and pressure from cheap import offers to Southern Europe, sources told Fastmarkets.

Demand has been weak due to the seasonal summer-holiday slowdown across the EU.
In addition, the number of offers from European mills has been limited. Suppliers in Germany were reported to be holding back from making new offers due to good order books and because they would prefer to take their time in evaluating the effects of the country's recent floods on their logistics, sources said.
Suppliers in Italy and Central Europe, in the meantime, have been offering fourth-quarter-shipment coil.

Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?1,143.04 ($1,349.65) per tonne on Wednesday, down by ?,?3.42...

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