European hot-rolled steel prices rebounded slightly with an increase of 2~3 euros. It was understood that the negotiation of auto contract prices in 2022 is still optimistic and the number of car contracts should not be further reduced.

Before Christmas, market demand has dropped significantly. At present, steel mills and distributors have high inventory levels. It was estimated that inventory levels will decrease after the holiday and early next year.

Basically, market participants will face low demand and prices of steel before a holiday.