Although prices for imported hot-rolled coil in the EU have been largely stable over the week to October 3, the market outlook remains gloomy, sources told Fastmarkets.
Buyers expect further price reductions due to poor demand in Europe, which resulted in tough competition between European mills and imported material."Competition is tough because mills need orders and demand is poor. In addition, demand is slow in the traditional outlet markets for Asian mills and they have decided to redirect volumes to Europe," a...