Week Euro lifts North European HRC prices to €407 a ton

UNITED KINGDOM January 22 2015 4:45 PMTweet 
LONDON (Scrap Register): A weak Euro, making import offers less attractive, is helping North European producers to lift HR coil prices.

As per TSI, North European HRC benchmark index finished the week at €407 a ton ex-works, with reported transactions ranging between €400-415 a ton.

But as some mills are managing to achieve increases of €5-10/t, market participants are doubtful if the full €30/t hike announced earlier could be realised.

In Southern Europe this was the first full working week for much of the Italian market and HRC prices were stable between €380-390 a ton.

With negotiations for end-Q1 delivery still ongoing, however, more clarity about price direction may come next week as some market players expect mills’ offers to go up closer to the €400 a ton mark in the near future.