UNITED KINGDOM June 17 2014 5:35 PM

LONDON (Scrap Register): Southern Europe hot rolled cold (HRC) steel prices dropped by €5 per ton week-on-week to €423 per ton in the week ended July 6th this year, as per the latest figures released by the The Steel Index.

According to TSI, daily HR coil spot price for Northern Europe slipped to a 2014 low of €423 a ton ex-mill (-€5/t w-o-w) last week, following subdued purchasing activity and the expected dip in demand over the summer period. 

Last week saw North European HR coil swaps (basis-TSI) cleared for Jul & Aug periods, at €436 a ton, according to a London-based broker involved in the deal.