European market participants now question whether an expected domestic price rise for hot-rolled coil (HRC) will be seen, due to the emergence of competitive offers from India, sources told Fastmarkets on Wednesday September 4.
Buyers had expected that transaction prices would move up in the first half of September, supported by a seasonal recovery in trading activity.
But this expectation has faded due to competitive offers being heard from India. Suppliers in the Asian country were reported to be targeting increased export sales to Europe due to poor demand in their own domestic market.
Meanwhile, Turkish suppliers have been less active in the European market. This was due to upcoming changes in Europe’s import safeguard measures, market participants believed.
The European Commission has presented a draft of adjusted trade protection measures, indicating that…