European HRC prices remain stable
Time:Fri, 06 Sep 2024 09:19:33 +0800
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The price of hot-rolled coil (HRC) in the European market this week is generally stable. Buyers in Northern Europe said that due to oversupply, a flat market of automobile consumption, a weak construction industry, and import price competition, domestic prices are under sales pressure with short delivery periods.
Market participants indicated that coil service centers have sufficient inventory, and are working hard to digest stock. Coupled with high inventory and cash flow needs, competition among each other is fierce.
According to news, some steel mills will announce the shutdown of blast furnaces in September and October, and reduce production to curb the downward trend of prices.
Italian buyers pointed out that the price difference between European mills' offer and imported HRC is only EUR 30-40/ton, so major buyers will choose with European origins when replenishing in the future.
