European HRC buyers cautious, unconvinced that price floor has been reached
 EUROMETALLatest Updates

European HRC buyers cautious, unconvinced that price floor has been reached

Published: 07 Jun 2023
European HRC buyers cautious, unconvinced that price floor has been reached

Only hand-to-mouth trading was reported in the European hot-rolled coil market on Tuesday June 6, Fastmarkets understands, with buyers holding back in the expectation that prices will fall further as June progresses.In Northern Europe, distributors and stockholders were only purchasing small tonnages of coil to cover gaps in stocks of specific grades or sizes, sources

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Sarralle to upgrade ArcelorMittal Belval plant

Published: 07 Jun 2023
Sarralle to upgrade ArcelorMittal Belval plant

Spanish technology and engineering supplier Sarralle Group tells Kallanish it has won an order from ArcelorMittal for the upgrade of its Belval plant in Luxembourg. The facility has an annual capacity to produce almost 1.3 million tonnes of beam blanks and bloom. The investment includes the engineering and supply of a new 155-tonne Direct Current electric arc furnace and 145t vacuum

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Galloo partners with Stellantis for vehicles recycling

Published: 07 Jun 2023
Galloo partners with Stellantis for vehicles recycling

Stellantis is partnering with scrap merchant Galloo to boost the automaker’s end-of-life Vehicle (ELVs) recycling, Kallanish notes. The firms will create a joint venture to collect and recycle ELVs initially in France, Belgium and Luxembourg, working with selected Authorised Treatment Facilities. The new company will be operative at the end of this year, offering its services to other automakers

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Belgian court postpones Liberty Liège bankruptcy ruling

Published: 07 Jun 2023
Belgian court postpones Liberty Liège bankruptcy ruling

A Belgian court has postponed once more, this time until the end of June, its ruling on Liberty Liège’s bankruptcy. This comes after all three bids to acquire the assets were rejected by the same court last month, Kallanish notes. While bankruptcy is still possible, the local government of the Walloon region is reported to be continuing

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Italian welded tube demand seen resurfacing in mid-June

Published: 07 Jun 2023
Italian welded tube demand seen resurfacing in mid-June

Some apparent demand for welded tube is forecast to resurface in the second half of June as both distributors and end-users in Italy have low stocks and are expected to come back to purchasing. The European market is currently in a deadlock that started several weeks ago, market sources tell Kallanish. Real demand is also particularly

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