Southern European HRC Steel prices decline €7 to €351 per ton

UNITED KINGDOM September 16 2015 12:35 PM    

LONDON (Scrap Register): The  Southern European hot rolled cold (HRC) steel prices declined by €7 per ton  week-on-week to €348 per ton ex-works in the week ended September 04, as per the  latest figures from the Steel Index.

In Southern Europe, there was still  a lack of clarity around mills’ new offer levels following the summer break, but  some deals were heard to be done below the €340 a ton mark, possibly indicative  of where prices might be heading in the near term.

With Chinese-origin HRC  imports reportedly offered as low as €305 a ton CIF Italy, the market is  expecting strong price reductions from domestic steel producers.

Northern  European mills started to lower their asking prices to attract orders, as  pressure from cheaper-priced imports became more apparent.

Although the  majority of HRC transactions in the region were still reported in the €375-385 a  ton range - keeping TSI’s benchmark index flat, some buyers with large orders  were able to achieve prices closer to €360 a ton.