Southern European HRC Steel prices gain significantly to €349 per ton

UNITED KINGDOM April 11 2016 3:25 PM     

LONDON (Scrap Register): The  Southern European hot rolled cold (HRC) steel prices gained significantly by €23  a ton week-on-week to €349 a ton during the week ended April 01, as per the  latest figures from the Steel Index.

According to TSI, with the lack of  competitive import offers, HRC prices in Southern Europe continued to  accelerate.

Producers’ asking prices were  heard between €350-360 a ton, and buyers upped their bids to secure orders.  TSI’s benchmark index closed the week at €349/t, a €23/t increase from the end  of last week.

It was a relatively quiet week in the North European  market, as many market participants were away for the Easter holidays. However,  prices continued to strengthen and transactions moved up closer to the €350/t  mark.

The market was also actively discussing news of Tata Steel  announcing the possible sale of its UK assets and emerging rumors of a potential  consolidation in the European steel industry.