Northern European HRC Steel prices advance further to €423 per ton

UNITED KINGDOM June 21 2016 4:29 PM     

LONDON (Scrap Register): Northern  Europe hot rolled cold (HRC) steel prices advanced further by €4 a ton  week-on-week to €423 per ton in the week ended May 27, as per the latest figures  released by The Steel Index.

The European steel market remained mostly  stable this week, despite falling prices in Asia. North European mills’ offers  were reported to be between €440-450 a ton, but some large-volume deals were  concluded well below that range and TSI’s North European HRC index ticked up to  finish the week at €423 a ton.

A similar €420-430 a ton  transaction price range was observed in Southern Europe. HRC import offers from  Russia and Ukraine were heard to be going down this week, close to the €430 a  ton CFR Italy mark.

Some market participants were speculating that we  might soon be seeing a new HRC trade protection investigation, involving the  largest exporters into Europe, although there is no official confirmation of  this yet.