Northern European HRC Steel prices advance to €428 per ton-Shanghai Metals Market

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Northern European HRC Steel prices advance to €428 per ton

Industry News 09:55:02AM Nov 11, 2016 Source:scrapregister

UNITED KINGDOM November 10 2016 2:49 PM

LONDON (Scrap Register): Northern Europe hot rolled cold (HRC) steel prices advanced €4 per ton week-on-week to €428 per ton in the week ended September 02, as per the latest figures released by The Steel Index.

North European HRC index ticked up to €428 a ton as more transactions were concluded this week nearer to the €430 a ton mark.

This seems to be a temporary stop-off point, as buyers commented on the likelihood of €10-20 a ton spot price increases in the near term. 

These expectations were confirmed by ArcelorMittal, which, as reported by S&P Global Platts today, increased its coil prices by €40 a ton. 

Italian buyers started to return to the market this week and HRC transactions were reported to be done at a pre-holiday level of €380 a ton, although many anticipate spot prices increasing to at least €400 a ton for HRC. 

Import offers were scarce, but Iran and Brazil are expected to come back with their new asking prices next week.

Price

more
62% Fe Fines (Qingdao Port): IOPI62
Apr.19
669.0
0.0
(0.00%)
62% Fe Fines (Qingdao Port, CFR Equiv.)
Apr.19
92.0
-0.2
(-0.20%)
58% Fe Fines (Qingdao Port): IOPI58
Apr.19
601.0
0.0
(0.00%)
58% Fe Fines (Qingdao Port, CFR Equiv.)
Apr.19
82.2
-0.2
(-0.19%)
65% Fe Fines (Qingdao Port): IOPI65
Apr.19
777.0
3.0
(0.39%)

Northern European HRC Steel prices advance to €428 per ton

Industry News 09:55:02AM Nov 11, 2016 Source:scrapregister

UNITED KINGDOM November 10 2016 2:49 PM

LONDON (Scrap Register): Northern Europe hot rolled cold (HRC) steel prices advanced €4 per ton week-on-week to €428 per ton in the week ended September 02, as per the latest figures released by The Steel Index.

North European HRC index ticked up to €428 a ton as more transactions were concluded this week nearer to the €430 a ton mark.

This seems to be a temporary stop-off point, as buyers commented on the likelihood of €10-20 a ton spot price increases in the near term. 

These expectations were confirmed by ArcelorMittal, which, as reported by S&P Global Platts today, increased its coil prices by €40 a ton. 

Italian buyers started to return to the market this week and HRC transactions were reported to be done at a pre-holiday level of €380 a ton, although many anticipate spot prices increasing to at least €400 a ton for HRC. 

Import offers were scarce, but Iran and Brazil are expected to come back with their new asking prices next week.