UNITED KINGDOM November 29 2016 2:41 PM
LONDON (Scrap Register): The Southern European hot rolled cold (HRC) steel prices climbed further by €8 a ton during the week ended September 16, as per the latest figures from the Steel Index.
The South European HRC index continued to move up and finished the week at €408 a ton. Many service centres came back to the market to place their orders after a prolonged absence, with most HRC deals recorded close to the €410 a ton mark.
The North European market was quieter this week, with a wide range of prices heard. While mills were setting up their asking prices above €450 a ton, buyers were reporting deals done almost €20 a ton lower.
However, producers talked about limited availability of allocations left for Q4 orders and stretching delivery lead-times, in turn raising expectations that HRC prices would move upwards in the near-term.