UNITED KINGDOM December 22 2015 3:24 PM
LONDON (Scrap Register): The Southern European hot rolled cold (HRC) steel prices slipped by €1 a ton week-on-week to €277 a ton during the week ended December 11, as per the latest figures from the Steel Index.
The 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.
Recent attempts by European producers to increase their asking prices have not found their way into the spot market yet.
However, 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.