UNITED KINGDOM November 04 2015 8:07 PM
LONDON (Scrap Register): The Southern European hot rolled cold (HRC) steel prices dropped by €2 a ton to €292 a ton during the week ended October 23, as per the latest figures from the Steel Index.
Trading activity in Europe was subdued this week, as some buyers stepped away from the market, unsure of price direction in the near future.
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South European HRC prices continued to trade predominantly within the €290-300 a ton range, while significant orders were negotiated some €10-15 a ton lower.
Import material continues to become relatively less competitive, as HRC was heard to be offered only around €5 a ton lower than asking prices from Italian mills.
However, the North European mills kept their HR coil offers unchanged between €340-350 a ton, while transactions were seen to be done mostly at the lower end of this range.
(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to firstname.lastname@example.org)