European hot-rolled coil prices edged up on Thursday July 8, despite slow trading activity, supported by still-limited supplies, sources told Fastmarkets.
Sufficient stocks at distributors, as well as full credit lines, were the main reasons behind the lack of trading activity, sources said.
Buying interest remained subdued, with customer largely holding back and making only hand-to-mouth bookings.
European HRC producers were still well-booked, however, and were offering fourth-quarter delivery HRC, with some claiming to be sold out until the end of the year and, consequently, in no rush to make concessions, sources said.
"We will have a few weeks of calm, but the...