UNITED KINGDOM July 02 2015 2:15 PM
LONDON (Scrap Register): The Southern European hot rolled cold (HRC) steel prices declined by another €8 per ton week-on-week to €372 per ton ex-works last week, as per the latest figures from the Steel Index.
With traditionally slower demand at the end of Q2, service centres were heard lowering their selling prices to the end-users, in turn, putting pressure on mills to cut offers.
Coupled with the availability of cheaper imports, producers’ asking prices reportedly fell by €5-10 a ton to €375-380 a ton.
However, Northern European HRC prices also trended down, although to a lesser extent, as market participants commented on relatively stable levels of demand.
(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to firstname.lastname@example.org)