UNITED KINGDOM November 07 2016 4:42 PM

LONDON (Scrap Register): Northern Europe hot rolled cold (HRC) steel prices stayed stable week-on-week at €424 per ton in the week ended August 26, as per the latest figures released by The Steel Index.

It was another week of scarce market activity in Europe, keeping prices generally stable. The market, however, is mulling over potential price increases in September and the only question seems to be how steep they will be. 

The main supporting argument is the tightness of supply, as European mills indicated that available allocations for Q4 might be limited. 

Additionally, recently released data by Eurofer showed a sharp drop in total flat steel imports in June; the only exclusion was coated steel imports, which remained on an elevated level compared to 2015.