UNITED KINGDOM March 25 2014 3:35 PM
LONDON (Scrap Register): Southern Europe hot rolled cold (HRC) steel prices declined sharply by €9 a ton week-on-week to €424 per ton in the week ended March 14th this year, as per the latest figures released by the The Steel Index.
According to TSI, benchmark HR coil indices for North and South European HRC both fell last week, losing €5 a ton and €9 a ton respectively.
Weak demand continued to weigh down on steel prices in Europe as producers lowered HR coil base prices. Ilva in Italy reportedly decreased its HR coil base prices for new orders to €420 a ton (ex-works), whilst other Italian producers’ offers stand close to €430 a ton.
In Northern Europe the previously dominant price level of €450 a ton slipped, as more transactions were concluded near the €440 a ton mark.