Domestic prices for hot-rolled coil in Europe declined slightly in the week to Friday November 12 amid subdued trading activity in the spot market.
HRC buyers across Europe were largely maintaining a wait-and-see attitude during the week.
European mills were still able to offer fourth-quarter HRC to the spot market at lower prices due to slowed demand from the automotive industry. Notably, some volumes of discounted HRC became available, which forced producers to redirect material to the spot market.
Nonetheless, sentiment regarding the first quarter of 2022 was quite upbeat. European mills were determined to...