UNITED KINGDOM November 10 2015 2:45 PM
LONDON (Scrap Register): Northern Europe hot rolled cold (HRC) steel prices continued to remain stable week-on-week at €343 per ton in the week ended October 30, as per the latest figures released by The Steel Index.
Amid tepid market activity, North European HRC index finished the week where it started, at €343 a ton.
Steel producers, reasonably booked until the end of the year, were reluctant to offer any discounts and spot deals were mostly done near the €340 a ton mark.
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However, in Southern Europe domestic mills were offering HRC between €290-300 a ton, although lower prices were reported for large orders.
A falling euro versus the dollar made imports into Italy less attractive, as HRC was quoted to be on offer for US$310-315 a ton CIF Italy, only about €10/t lower than asking prices from local mills.
This offered some respite for local suppliers, as the market began to speculate if prices in the region have finally reached a bottom.
(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)
