Sources said trading activity remained limited during the day due to the seasonal slowdown, but demand is not expected to increase significantly in September when both buyers and sellers will resume trading. As a result, the expected increase in offers is unlikely to be successful.
Large volumes of imported HRC, around 500,000 mt on their way to the EU and awaiting customs clearance at European ports, have also put pressure on local prices, sources estimated. As a result, the fourth-quarter conservation quota is expected to be exhausted within a few days after October 1.
Local prices were partially supported by production outages at some European mills due to scheduled maintenance.
Local prices for hot rolled coil in Northwest Europe increased by EUR 10 to EUR 635/mt ex Ruhr mill on August 21.
In Northwest Europe, trade values and transactions were reported at EUR 630-650/mt ex-works.
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