EUROPE HRC: Sentiment gloomy, prices stable in slow market

The mood in the European market for hot-rolled coil has been downbeat but prices have remained stable despite limited trading activity, sources told Fastmarkets on Wednesday April 1.

Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, fell by just ?,?0.26 per tonne to ?,?472.50 ($519.73) per tonne on Wednesday, from ?,?472.86 per tonne on March 31.
Wednesday's index was calculated based on offers and "workable" prices heard at ?,?470-480 per tonne ex-works.
Market activity has been slow following numerous shutdowns in the European automotive industry due to the Covid-19 pandemic. The construction industry still showed some demand, according to market sources, but consumption of flat steel has been weaker generally due to reduced activity in different consuming industries, sources said.

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