Due to the shortage of automotive chips, the European automotive industry consumed less steel than expected this year. Therefore, some local producers have released their excess production capacity.
In addition, supply continued to increase in the domestic market, and cold rolled coil (CRC) prices fell this week, with buyers' sufficient inventories.
However, to keep prices from falling, European manufacturers adopted conditional trade and sales. Currently, manufacturers' orders are scheduled for delivery in early 2022.
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