Domestic prices for cold-rolled and hot-dipped galvanized coil in Europe weakened slightly in the week leading up to August 28, due to limited demand and oversupply. Mills were hoping for restocking, but this is only expected to happen in the second half of September and likely to be limited. Buyers are trying to reduce their inventories amid low activity in the construction market and concerns about a downturn in the automotive sector.
High interest rates are also discouraging investments. Mills in Northern Europe continue to offer CRC and HDG for October delivery, indicating weak order books. Offers for CRC from Japan and South Korea were heard at competitive prices, further impacting the market.
