In the week ending February xxrd, the price of Hot Rolled Coil experienced a declining price trend in the European spot market as the demand shortened amidst buyers lowering their orders due to the hesitations in the steel market. Meanwhile, the production in the European mills is on a higher edge leading to an increased inventory level in the captive market. The expansion of the Hot Rolled Coil mills of Habas A.S, in Turkey in November ending xxxx has pushed the production rate further northward. ThyssenKrupp has also planned to provide Hydrogen for the DRI plant in Duisburg, Germany, promoting the green steel scheme of the European Union. Furthermore, the closure of the TATA Steel plant at Port Talbot, along with a reduction in import quotas in the UK has been a major concern for Hot Rolled Coil among the market players in the European spot market.
