Southern Europe HRC Steel import prices show an ebb and flow mode

UNITED KINGDOM February 05 2015 10:23 AMTweet 
LONDON (Scrap Register): The benchmark daily prices for HR coil in Southern Europe ebbed and flowed in the week ended January 23 as trades were concluded across a range of price levels before it finished the week at €394 a ton, as per The Steel Index.

Italian producers increased their asking prices closer to €400 a ton (ex-works), reportedly aiming to recover €10-15 a ton compared to the December-end price level.

At the same time, some bigger-volume deals were still closing below the €390 a ton mark. Ilva is temporarily absent from the HRC market, having suspended some operations due to a lack of raw materials.

North European HRC prices were steady, as €5-10 a ton increases have yet to translate into higher priced deals.

Meanwhile, Q2/Q3-15 North European HRC swaps cleared on LCH.Clearnet – priced at €400a ton, and Jan-15 swaps also cleared the week, both basis TSI.