Northern European HRC Steel prices decline to €408 per ton

UNITED KINGDOM February 27 2015 11:18 AM

LONDON (Scrap Register): Northern Europe hot rolled cold (HRC) steel prices declined by €6 per ton week-on-week to €408 per ton in the week ended February 20, as per the latest figures released by The Steel Index.

North European producers held offers steady in the €410-420/t range, but some buyers managed to secure discounts in the absence of greater spot market activity, with trades closer to the €405/t mark.

Meanwhile, Feb-Mar and Apr-May North European HRC swaps were cleared on LCH. Clearnet this week, both basis TSI.

Despite pressure from the lower-priced imports, spot HRC prices in Southern Europe remained fairly stable, with TSI’s benchmark index €1 a ton lower from 1-week ago to finish at €404 a ton.

Problems at Italy’s largest steel producer – Ilva, continued, with a truck drivers’ strike blocking deliveries from the mill, allowing other suppliers to book and fulfil orders instead.