UNITED KINGDOM May 25 2015 11:41 AM
LONDON (Scrap Register): Northern Europe hot rolled cold (HRC) steel prices plummeted by €7 a ton week-on-week to €392 per ton during last week, as per the latest figures released by The Steel Index.
According to TSI, transactions were seen concluded mostly between €390-400 a ton, and larger volume deals were concentrated at the lower end of the range.
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The South European market saw more activity this week, as buyers returned to book material at slightly lower prices.
HRC was reportedly trading around €390 a ton, but some deals were concluded closer to the €380 a ton mark.
Highlighting concerns about the increasing impact of imports on the European steel market, the European Commission initiated an anti-dumping investigation into CRC imports from China and Russia.
(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to email@example.com)