UNITED KINGDOM September 08 2015 2:19 PM
LONDON (Scrap Register): The Southern European hot rolled cold (HRC) steel prices advanced by €4 per ton week-on-week at €355 per ton ex-works in the week ended August 28, as per the latest figures from the Steel Index.
Activity in the European steel markets remained lackluster, with only a limited number of transactions recorded this week.
The situation in South Europe is less clear, as many of the market participants are only starting to return from their holidays.
TSI’s North European HRC index ticked down to €378 a ton, with trades concluded in a wide €370-390 a ton range.
Market sentiment is prevailingly negative though, as declining HRC import prices into Europe and increased production by Ilva are putting downward pressure on domestic mills.