Domestic prices for hot-rolled coil in Europe were fairly stable on Thursday September 9, with buyers and steelmakers employing a "wait-and-see" strategy, sources told Fastmarkets.
Negative sentiment prevailed among buyers due to the effects of competitive import offers, lower demand from distributors due to sufficient stocks and anticipated lower volumes purchased by the automotive sector. Additional volumes are expected to appear in the spot market after mills and car manufacturers settle their long-term contracts.There were several reports of automakers working at reduced capacity...