UNITED KINGDOM January 19 2016 3:15 PM
LONDON (Scrap Register): The Southern European hot rolled cold (HRC) steel prices dropped by €3 a ton week-on-week to €281 a ton during the week ended January 08, as per the latest figures from the Steel Index.
Market activity in European steel markets was limited during the week, keeping HR coil prices mostly flat.
European producers seem to be determined to lift prices up from the lows experienced at the end of 2015, and it was reported that ArcelorMittal has already announced a €25 a ton increase to its coil prices across Northern and Southern Europe.
In Northern Europe, HRC transactions concluded between €310-320 a ton, an unchanged price level from late December.
With a national holiday in Italy in the middle of this week, trading in the region was minimal, and mills’ offers are expected to be confirmed next week.