UNITED KINGDOM July 03 2015 11:36 AM
LONDON (Scrap Register): Northern Europe hot rolled cold (HRC) steel prices declined by €4 a ton week-on-week to €387 per ton during last week, as per the latest figures released by The Steel Index.
Northern European HRC prices also trended down, although to a lesser extent, as market participants commented on relatively stable levels of demand.
However, South European HRC prices declined the week, with TSI’s benchmark index falling to €372 a ton ex-works on last Friday, €8 a ton lower than a week ago.
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.
(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to firstname.lastname@example.org)