UNITED KINGDOM May 03 2016 5:25 PM
LONDON (Scrap Register): Northern Europe hot rolled cold (HRC) steel prices continued to rise by €5 a ton week-on-week to €365 per ton in the week ended April 08, as per the latest figures released by The Steel Index.
According to TSI, 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.
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.