UNITED KINGDOM July 09 2015 3:25 PM
LONDON (Scrap Register): The Southern European hot rolled cold (HRC) steel prices slipped by another €1 per ton week-on-week to €371 per ton ex-works last week, as per the latest figures from the Steel Index.
After last week’s falls, South European HRC prices stabilized close to the €370 a ton ex-works mark. Asking prices from the majority of Italian producers were heard to be around €370 a ton, although some mills were at €375-380 a ton.
In Northern Europe, first-tier producers reportedly continued to offer HRC close to the €400 a ton mark, while other mills’ asking prices were lower, around €390 a ton.
Prices for Chinese-origin HRC imports to both North and South Europe were said to be as low as €345 a ton CIF, while other origins were slightly higher.
Market participants commented that most of the bookings for Q3 are now completed, and we can expect a slowing down in market activity in the next few weeks.
(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to firstname.lastname@example.org)