Sentiment in the European hot-rolled coil market was largely bullish on Tuesday November 2, supported by a slight recovery in demand amid news of an agreement between the US and the EU on Section 232 tariffs, sources told Fastmarkets.
On October 30, the European Union and the United States agreed to replace Section 232 steel and aluminium tariffs against the bloc's 27 countries with tariff-rate quotas.A rise in export tonnages is likely to offset the negative impact of reduced demand from the automotive sector in Europe, caused by...