Northern European HRC Steel prices decline to €387 per ton

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 editor@scrapregister.com)