UNITED KINGDOM October 12 2015 1:40 PM
LONDON (Scrap Register): Northern Europe hot rolled cold (HRC) steel prices remained flat week-on-week at €371 per ton in the week ended September 25, as per the latest figures released by The Steel Index.
According to TSI, European HR coil benchmark experienced a see-saw week with spot prices falling heavily to new record low’s earlier in the week before recovering a few euros higher.
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Italian re-roller Marcegaglia announced it would make ‘minor adjustments’ to prices for steel products, following an updated price list earlier this year.
According to Platts reports, the re-roller said demand fundamentals had remained sound but fears over falling steelmaking costs meant buyers remained cautious.
Indeed, other purchasers noted that a softening of HR coil prices in Asia had also side-lined many in Europe, in the hope that domestic steel prices would follow suit downwards.
(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to firstname.lastname@example.org)