EUROPE HRC: Sentiment sours in Italy on cheaper imports; floods hurt German deliveries

Sentiment varied in the hot-rolled coil markets of Northern Europe and Italy despite seasonally slow demand in both regions, sources told Fastmarkets on Tuesday July 20.

In Northern Europe, domestic HRC prices are likely to remain fairly stable during summer and will possibly rise in autumn, sources said. Good order books at the region's mills and concerns about tight supply due to German floods supported the market mood.
Northern European mills have been largely holding back from making offers in July. The region's steelmakers have limited volumes to offer for fourth-quarter production or have sold out 2021 production material.

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