European HRC prices hold stable in slow market

Domestic prices for hot-rolled coil were fairly stable in Northern Europe and Italy on Tuesday November 16 due to a lack of trading activity, sources told Fastmarkets.

Spot buyers will remain in "wait-and-see" mode until the price trend becomes clear and long-term contracts are settled, sources said.
Producers across Europe have been aiming for higher prices for first-quarter rolling coil due to rising energy and emissions costs as well as anticipated restocking by distributors. Some sources said that producers have already achieved some higher coil prices, which is reflected in long-term contracts with the automotive industry.

Some steelmakers, however, still had some fourth-quarter rolling coil to offer at discounted prices....

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