Transactions for hot-rolled coil in Europe remained limited on Wednesday October 6, with buyers and sellers preferring to avoid transactions until the price trend becomes clearer, sources told Fastmarkets.
Most European buyers have sufficient flat steel stocks to last until the end of the year. Buyers will have to return to the market in November at the latest because they will need to plan for the first quarter of 2022 and the traditionally slow month of December.The automotive industry has been running at reduced rates recently due to the global semiconductor shortage, so extra volumes of coil have been released into the spot market. In addition, mills have restarted...