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Southern European HRC Steel prices plummet to €332 per ton
Sep 21,2015 18:53CST
industry news
Source:SMM
The Southern European hot rolled cold (HRC) steel prices plummeted week-on-week to €332 per ton ex-works in the week ended September 11, as per the latest figures from the Steel Index.

UNITED KINGDOM September 21 2015 4:20 PM

LONDON (Scrap Register): The Southern European hot rolled cold (HRC) steel prices plummeted week-on-week to €332 per ton ex-works in the week ended September 11, as per the latest figures from the Steel Index. 

According to TSI, South European HRC index lost €16 a ton since last Friday, closing the week at €332 a ton, the lowest level since May 2009. 

Falls in Chinese-origin HRC import prices to €300/t CIF Italy and increased output by Ilva meant pre-holiday price levels quickly became unsustainable, forcing domestic mills to significantly drop their asking prices. 

The majority of transactions were recorded in a €330-335/t range, while some deals were done even lower. 

However, North European HRC prices were more stable, as market participants reported that producers were still offering the product between €370-380 a ton.

But an increasing gap with South European prices and imports, the latter reportedly at €320 a ton CIF Antwerp, may make maintaining this domestic price level difficult. 

Meanwhile, 3.3kt of North European HRC swaps were cleared the week by LCH.Clearnet.


The Southern European hot rolled cold (HRC) steel prices

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