UNITED KINGDOM June 22 2016 6:24 PM

LONDON (Scrap Register): Northern Europe hot rolled cold (HRC) steel prices edged up by €1 a ton week-on-week to €424 per ton in the week ended June 03, as per the latest figures released by The Steel Index. 

North European HR coil prices ticked up a few euros this week to end today at €424/tonne ex-works. Official list prices from steelmakers ranged between €440-460/t, but trading activity this week indicated material was available for booking between €420-430/t. 

With delivery lead-times stretching to almost two months from order, some market participants were willing to pay a premium to secure material more promptly. In South Europe, HR coil spot prices were flat at €426/t. 

Market activity was pedestrian, with service centres closely observing happenings in Asia. Import offers from Iran were in the €445-450/t CFR Italy range with no bookings heard at this level. 

Automotive negotiations continue, with more price clarity expected in the coming weeks.

(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)