UNITED KINGDOM May 11 2016 3:27 PM
LONDON (Scrap Register): The Southern European hot rolled cold (HRC) steel prices gained by another €7 a ton week-on-week to €363 a ton during the week ended April 22, as per the latest figures from the Steel Index.
According to TSI, 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.
However, 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.