Southern European HRC Steel prices drop to €286 a ton

UNITED KINGDOM February 05 2016 2:27 PM    

LONDON (Scrap Register): The  Southern European hot rolled cold (HRC) steel prices dropped by €4 a ton  week-on-week to €286 a ton during the week ended January 29, as per the latest  figures from the Steel Index.

South European HRC index lost to €286 a ton  as mills seemed to be ready to offer discounts to attract orders in a quiet  market.

Activity in the European steel market remained slow, as buyers  booked large orders at the bottom of the market last year, and now return to the  spot market only to top up their inventories.

Although stock levels are  currently relatively low, some steel users are waiting for an arrival of their  import bookings made 3-4 months ago.

HR coil transactions in the North  European market were mainly done in the €320-325/tonne range, similar to the  last week.

Orders were still made for March delivery, while quotations  for the second quarter should become available in the next few weeks.