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As reported by Yieh.com, the supply of hot-rolled coils from EU steel mills is still inadequate and currently a capacity quota has been set aside for delivery in the fourth quarter. Most local buyers are waiting for EU safeguards to be approved and are worried about the price trend in the Chinese market, so there are really no solid deals.
Market participants believe that the current price is a little calmer, and domestic prices may weaken due to the approaching European summer holidays.
In addition, the price of imported hot-rolled coils dropped slightly. While the final decision on EU safeguards has yet to be announced, most buyers considered buying and assumed that safeguards would continue.
