UNITED KINGDOM December 21 2015 3:45 PM
LONDON (Scrap Register): Northern Europe hot rolled cold (HRC) steel prices slipped by €1 a ton week-on-week to €317 per ton in the week ended December 11, as per the latest figures released by The Steel Index.
Recent attempts by European producers to increase their asking prices have not found their way into the spot market yet.
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Some North European mills have reportedly moved their offers up to €345- 350 per ton, but the market remains skeptical, viewing these hikes as mills’ attempt to improve their position in the ongoing automotive negotiations.
Transactions recorded this week stayed in the €310-325 per ton range, and TSI’s benchmark index finished the week at €317 per ton.
A similar picture was seen in the south of Europe, where prices remained around €275-280 per ton amid very slow market activity. Chinese-origin imports were heard to be offered between €280-285 per ton CIF Italy.
(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to email@example.com)