UNITED KINGDOM May 10 2016 3:45 PM
LONDON (Scrap Register): Northern Europe hot rolled cold (HRC) steel prices advanced further by €10 a ton week-on-week to €375 per ton in the week ended April 22, as per the latest figures released by The Steel Index.
North European HR coil spot prices rose €10 a ton to finish the week at €375 a ton, as concluded transaction prices jumped following recent price hikes from steel producers.
The rise in spot HRC prices both in China and the US helped push domestic offer levels higher, ranging between €380-390 a ton as the competitiveness of import material quickly diminished.
In Southern Europe, HRC benchmark prices climbed €7 a ton from one-week ago to €363 a ton with Ilva rumoured to be mulling an increase in offers of up to €400 a ton.
(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to firstname.lastname@example.org)