UNITED KINGDOM October 09 2014 5:34 PM
LONDON (Scrap Register): Northern Europe hot rolled cold (HRC) steel prices dropped by €5 per ton week-on-week to €421 per ton in the week ended October 03 this year, as per the latest figures released by The Steel Index.
According to TSI, with sentiment weak in Northern Europe, HR coil prices trended slightly down this week. End-user demand remained at lower than previously expected levels as buyers’ exercised caution, booking material only for immediate use.
TSI’s North European HR coil index fell to €421 a ton towards the end of the week, as a number of transactions were concluded both sides of the €420 a ton mark (ex-works).
Although similar worries about demand were expressed by participants in Southern Europe, the relative lack of imports continues to support domestic prices in the region.
Meanwhile, the North European HRC swaps market saw a contract for January 2015 cleared on LCH.Clearnet.