Southern European HRC Steel prices advance

UNITED KINGDOM May 02 2016 3:21 PM

LONDON (Scrap Register): The Southern European hot rolled cold (HRC) steel prices advanced by €6 a ton week-on-week to €356 a ton during the week ended April 15, as per the latest figures from the Steel Index.

According to TSI, South European producers increased their offer prices, and some started to ask €380 a ton for HRC. This is yet to trickle down into the spot market, although more transactions were heard concluded at the €360 a ton level and TSI’s benchmark index ticked up to €356/t by the end of the week. 

The Northern European market was relatively quiet, with HRC asking prices remaining near the €380 a ton mark and transactions mostly done in the €360-370 a ton range. 

A few producers reportedly withdrew their offers this week, and some in the market expect a new round of price hikes to be announced soon. Import offers were heard on par with domestic prices, near the €360 a ton mark CFR Antwerp or CFR Italy.

(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)