Northern Europe HRC Steel prices advance to €423 per ton

UNITED KINGDOM September 20 2014 5:06 PM 
LONDON (Scrap Register): Northern Europe hot rolled cold (HRC) steel prices advanced by €2 per ton week-on-week to €423 per ton in the week ended September 12 this year, as per the latest figures released by The Steel Index.

North European HRC index remained flat during the week, with transactions mainly concluding in the €420-425/t range (ex-works).

A further 3,500 tons of North European HRC swaps (basis TSI) for Dec’14 and Q1’15 contracts were cleared this week by LCH.Clearnet.

Partially absorbing the latest price increases, South European HRC prices stabilised on a new level near the €420 a ton mark (ex-works).

Nonetheless, questions remain about the strength of the underlying end-user demand as, according to some sources, Ilva started to reduce prices in order to secure new orders.