UNITED KINGDOM December 01 2015 3:32 PM
LONDON (Scrap Register): The Southern European hot rolled cold (HRC) steel prices stayed flat week-on-week at €287 a ton during the week ended November 20, as per the latest figures from the Steel Index.
According to TSI, signs of activity returned to the South European market, as buyers gained confidence that prices may have temporarily stabilized around the €290 a ton mark, with TSI’s index flat at €287 a ton for almost two weeks now.
North European HRC index dropped €6/tonne from last Friday to finish the week at a new low of €326 a ton.
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Buyers continued to place only hand-to-mouth bookings, and mills were forced to reduce their asking prices to meet customers’ price expectations and secure orders.
Transactions were seen concluding in a wide range, stretching from €335 a ton to as low as €310 a ton, although some market players indicated that even lower prices were possible to achieve.