The European hot-rolled coil (HRC) market continues to face challenges due to weak buying interest and elevated inventory levels. As of September 27, restocking activity remains low, and end-user demand has not shown significant improvement.

Market participants are hopeful for a turnaround in the fourth quarter of 2024, driven by long-term contract negotiations with automotive companies and preparations for the first quarter of 2025. The automotive industry, however, remains affected by broader macroeconomic issues, adding to the market’s uncertainty.