UNITED KINGDOM April 26 2016 6:47 PM
LONDON (Scrap Register): The Southern European hot rolled cold (HRC) steel prices remained flat week-on-week at €350 a ton during the week ended April 08, as per the latest figures from the Steel Index.
The South European market settled near the €350/t mark, a level achieved by the end of last week.
However, North European HRC prices made another leap this week, gaining €10/tonne to close at €360/t.
Some producers were holding their asking prices as high as €380/t, and they seem to be determined to achieve this price level in the near term.
As many buyers started to accept that the current price uptrend will last for some time, they came back to the market to secure orders before prices move even higher, creating a flurry of activity.
(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to firstname.lastname@example.org)