EUROPE HRC: Market activity slow, sentiment negative

The European hot-rolled coil (HRC) market remained calm on Tuesday August 31 while buyers remained in a "wait-and-see" mode, sources told Fastmarkets.

Although both buyers and sellers have returned to the market after a traditionally slow August, they have been taking their time to assess market trends.
Buyers' sentiment has been largely negative due to lower iron ore costs, uncertainty over automotive demand, sufficient buyer stocks and an increased availability of coil in the European market.

A continuing shortage of semiconductors has...

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