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Global HRC trade slows amid weak demand, holidays.
Southeast Asia, Europe, and Middle East markets dull.
Traders await post-holiday market direction.
The global hot-rolled coil (HRC) market has witnessed a significant slowdown in trade volumes this week, with key regions like Southeast Asia, Europe, and the Middle East experiencing reduced activity. The deceleration comes amid a combination of weak demand, upcoming holidays, and currency fluctuations impacting buying decisions.
In Southeast Asia, importers held back fresh bookings as market sentiment softened due to sluggish construction demand and fluctuating scrap prices. Buyers are reportedly waiting for clearer post-holiday market cues before committing to bulk orders.
European markets also remained subdued with several countries on extended holidays, and buyers hesitant to place new orders given uncertainties in downstream demand and volatile input costs. Domestic mills have reportedly refrained from lowering offers, opting to wait out the current pause.
Meanwhile, in the Middle East, Ramadan-related holidays and slowed project activities kept trading thin, with most stockists operating at minimum procurement levels. Market watchers anticipate a mild revival after regional holidays, though any significant rebound hinges on Chinese export offers and global scrap trends.
Overall, the HRC market sentiment remains cautious, with trade disruptions expected to persist till early May. Traders globally are adopting a wait-and-watch approach amid mixed price signals and demand uncertainty.
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