UNITED KINGDOM May 20 2016 5:32 PM
LONDON (Scrap Register): The Southern European hot rolled cold (HRC) steel prices remained flat week-on-week at €378 a ton during the week ended April 29, as per the latest figures from the Steel Index.
Activity in the South European market was slow this week, as a number of Italian mills were heard to withdraw their offers, with market participants speculating that they will come back with HRC asking prices over €400 a ton.
Deals were done between €370- 380/t, although many buyers remain on the sidelines, waiting for more clarity in the price level.
HR coil offers from North European steel producers rose to between €400-410 a ton, and by the end of the week this price level started to trickle down into the spot market.
Transactions concluded in a wide €380-400 a ton range, and TSI’s Northern European benchmark index gained €13/t from last Friday.