EUROPE HRC: Market in 'wait-and-see' mode; mills refuse to decrease prices

September 03, 2021 / www.metalbulletin.com / Article Link

The European hot-rolled coil market remained in "wait-and-see" mode on Thursday September 2, with mills continuing to reject buyers' lower bids, sources told Fastmarkets.

Order books for the majority of EU mills are filled until the first quarter of 2022. As a result, they are keeping official offers unchanged from levels in June - before the market entered its traditional summer slowdown.
Some market participants also suggested that producers will keep domestic spot prices stable in September during negotiations that are taking place with long-term contract buyers.

A continuing shortage of semiconductors has limited automakers' manufacturing rates and, as a result, has negatively...

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