Northern European HRC Steel prices continue to decline to €411 per ton

UNITED KINGDOM September 06 2016 2:55 PM    

LONDON (Scrap Register): Northern  Europe hot rolled cold (HRC) steel prices continued to decline by €04 a ton  week-on-week to €411 per ton in the week ended July 22, as per the latest  figures released by The Steel Index.

With slow market activity in  the region, European steel prices trended down during the week. Although North  European mills were holding their HRC asking prices near €420 a ton,  large-volume bookings in a quiet market commanded a discount of around  €10/t.

To attract orders prior to the summer holidays, one Italian  producer was heard lowering its HRC asking prices to €380/t, whilst other mills’  offers were about €10- 20/t higher.

This brought TSI’s South European  HRC index below the €400/tonne mark to €394/t. Import offers were heard around  €400/t CFR Antwerp, attracting little interest due to the ongoing anti-dumping  investigation.