UNITED KINGDOM September 15 2015 2:37 PM
LONDON (Scrap Register): Northern Europe hot rolled cold (HRC) steel prices remained flat week-on-week at โฌ378 per ton in the week ended September 04, as per the latest figures released by The Steel Index.
Northern European mills started to lower their asking prices to attract orders, as pressure from cheaper-priced imports became more apparent.
Although the majority of HRC transactions in the region were still reported in the โฌ375-385 a ton range - keeping TSIโs benchmark index flat, some buyers with large orders were able to achieve prices closer to โฌ360 a ton.
In Southern Europe, there was still a lack of clarity around millsโ new offer levels following the summer break, but some deals were heard to be done below the โฌ340 a ton mark, possibly indicative of where prices might be heading in the near term.
With Chinese-origin HRC imports reportedly offered as low as โฌ305 a ton CIF Italy, the market is expecting strong price reductions from domestic steel producers.
