Southern European HRC Steel prices remain flat at €378 per ton

UNITED KINGDOM May 20 2016 5:32 PM     

LONDON (Scrap Register): The  Southern European hot rolled cold (HRC) steel prices remained flat week-on-week  at €378 a ton during the week ended April 29, as per the latest figures from the  Steel Index.

Activity in the South European market was slow this week, as  a number of Italian mills were heard to withdraw their offers, with market  participants speculating that they will come back with HRC asking prices over  €400 a ton.

Deals were done between €370-  380/t, although many buyers remain on the sidelines, waiting for more clarity in  the price level.

HR coil offers from North European steel producers rose  to between €400-410 a ton, and by the end of the week this price level started  to trickle down into the spot market.

Transactions concluded in a wide  €380-400 a ton range, and TSI’s Northern European benchmark index gained €13/t  from last Friday.