LONDON (Scrap Register): Northern Europe hot rolled cold (HRC) steel prices advanced by €4 a ton week-on-week to €391 per ton in the week ended July 03, as per the latest figures released by The Steel Index.
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.
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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.
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.