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.