EUROPE HRC: Poor market expectations limit trading activity

Domestic prices for hot-rolled coil in Europe were stable to slightly lower on Thursday, while trading activity remained subdued because of bearish buyer expectations amid falling automotive demand, sources told Fastmarkets on Thursday September 23.

Buyers across Europe continued to maintain a wait-and-see stance and held back from trading, sources said. 
The recent slowdown in the automotive industry - the region's major flat steel consumer - caused by the acute semiconductor shortage globally, has weighed on market expectations. Notably, buyers expect the additional HRC volumes to appear in the spot market, which would ease supply tightness and lead to a further decline in prices. 

"Buying is dead...

Immediate trigger for crash was new Fed Chairman pick

Gold stocks slump on metal price decline

Is the gold market starting to turn 'irrationally exuberant'?

Gold stocks explode up as equity markets languish

Gold stocks outpace flat large caps