UNITED KINGDOM August 27 2015 10:16 AM
LONDON (Scrap Register): Northern Europe hot rolled cold (HRC) steel prices declined further by €5 a ton week-on-week to €383 per ton in the week ended August 14, as per the latest figures released by The Steel Index.
Although only limited activity was seen in European markets, TSI’s North European HRC index fell to finish the week at €383 a ton. Market pricing was mixed – with deals concluded well below the €380 a ton mark whilst significant volumes were still seen traded around €390 a ton.
As prices continue to soften, many market participants do not expect any improvements in the near term, commenting that mills may be targeting a price roll-over this year, instead of the traditional September price hikes markets are used to seeing.
The South European market was quieter, as many steel traders and service centers in Italy remain shut for much of August.