Southern European HRC Steel prices continue to stay below €300 a ton mark

UNITED KINGDOM October 28 2015 3:41 PM 

LONDON (Scrap Register): The Southern European hot rolled cold (HRC) steel prices edged up during the week ended October 16, as per the latest figures from the Steel Index.

According to TSI, South European HRC index remained mostly stable this week, firmly establishing itself below the €300 a ton mark.

According to the latest industry numbers, Italy continues to receive an influx of lowerpriced import material, which is suppressing domestic mills’ asking prices.

Between Jan-Aug this year, Italy accounted for 35% of all EU steel imports, while HRC and CRC imports into the country increased by 75% and 71% year-on-year respectively.

North European HRC prices hovered just above the €340 a ton level the week, with the majority of trades reported between €340-350 a ton, although large volume transactions were able to achieve as low as €330 a ton.