European hot rolled steel prices rebounded slightly, with an increase of 2~3 Euros. It is understood that the negotiation of auto contract prices in 2022 is still optimistic and the number of car contracts should not be reduced further.
Before Christmas, market demand dropped significantly. Steel mills and distributors currently have high stock levels. Stock levels are expected to decrease after the holiday and early next year.
Basically, market participants will be faced with lower demand and steel prices before the holiday.
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