UNITED KINGDOM October 25 2016 6:27 PM
LONDON (Scrap Register): The Southern European hot rolled cold (HRC) steel prices advanced by €4 a ton week-on-week to €384 a ton during the week ended August 12, as per the latest figures from the Steel Index.
The South European market was particularly quiet, and is likely to remain so next week, as well, as many service centers and traders in Italy are shut for most of August.
The European steel market was slow during teh week, as can be expected for this time of the year. In Northern Europe, mills’ offers were stable and HRC transactions concluded around the €420 a ton mark, similar to last week.
Market participants are beginning to look at September, anticipating that we can see some price increases given the lack of import options.