Domestic prices for hot-rolled coil in both Northern Europe and Italy were fairly stable day on day on Tuesday July 13 due to the start of the seasonal summer slowdown, sources told Fastmarkets.
Buyers have been reported to be largely inactive in the market. They have also been holding back from acquiring substantial volumes over the past few weeks, mainly due to still-high prices, long lead times, full credit lines and uncertainty about the price trend.The lack of trading activity had little effect on the producers because they have good order books. Only a few mills have been active in the market, offering fourth-quarter rolling HRC. Some steelmakers claimed to be sold out until...