UNITED KINGDOM January 23 2015 12:02 PMTweet 
LONDON (Scrap Register): Southern Europe hot rolled cold (HRC) steel import prices remained unchanged weak-on-week at €389 per ton in the week ended January 16, as per the latest figures released by The Steel Index.

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.

A weak Euro, making import offers less attractive, is helping North European producers to lift HR coil prices. 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.