UNITED KINGDOM October 17 2014 5:30 PM

LONDON (Scrap Register): Northern Europe hot rolled cold (HRC) steel prices edged up by €1 per ton week-on-week to €422 per ton in the week ended October 10 this year, as per the latest figures released by The Steel Index.

The European steel market continued to struggle with slow demand this week, putting downward pressure on current price levels.

With low raw material prices, North European producers have less incentive to push for price increases and started to make more aggressive offers to improve order books.

Italian mills have also been affected by the slowdown in orders and offers from Ilva have reportedly come down to €420 a ton (from the previous level of €430/t, ex-works).