UNITED KINGDOM December 11 2015 4:35 PM
LONDON (Scrap Register): Northern Europe hot rolled cold (HRC) steel prices edged up €1 a ton week-on-week to €318 per ton in the week ended December, as per the latest figures released by The Steel Index.
The North European HR coil market remained fairly stable this week, as market participants were left to ponder whether the current spot price level will become a price floor.
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With Chinese steel import prices unchanged for the past few weeks, as well as material from other origins offered on par with domestic offer levels, European mills were attempting to avoid handing out further discounts to their asking prices.
Transactions done this week ranged between €310-330 a ton, with some Eastern European mills reportedly about €10 a ton below the lower end of that range.
However, South European HRC index trended slightly lower to finish the week at €278/t, as transactions were concentrated in a tight range of €275-280 a ton.
(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to email@example.com)