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European hot coil prices fell sharply

According to foreign media reports, on October 13, the ex factory price index of hot coil in northern Europe was 1007 euros (US $1162.6) / ton, down 28.7 euros / ton on a weekly basis and 81.1 euros / ton on a monthly basis.

According to the European market news, the overall market demand for hot coils is relatively weak, especially in the automotive industry. Due to the shortage of chips, the operating rate has decreased. Some market participants said that the hot coils ordered by the automotive industry are 20-30% less than originally expected, while the demand for hot coils in the white appliance industry is relatively good. At present, most dealers in Europe have sufficient hot coil inventory. Recently, buyers are mainly on the sidelines, and the transaction is low. It is expected that the market trading volume will recover in November.

On October 13, the ex factory price index of Italian hot coil was 910 euros / ton, down 30.3 euros / ton on a weekly basis and 101.3 euros / ton on a monthly basis.

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