UNITED KINGDOM December 13 2016 4:11 PM

LONDON (Scrap Register): The Southern European hot rolled cold (HRC) steel prices advanced further by €2 a ton to €422 a ton during the week ended October 07, as per the latest figures from the Steel Index.

European steel prices were mostly flat during the week, as the market seemed to have stabilised for the time being at the current level. 

HRC prices in the south of Europe were steady around the €420 a ton mark, although some higher-priced deals were also heard.

In Northern Europe HRC trading was largely done between €445- 455 a ton, while the €480 a ton price level targeted by ArcelorMittal is still seen as being too high by some service centers. 

While mills are maintaining that they are fully booked for Q4 and anyone looking for a delivery this year would have to pay the full asking price, buyers remained skeptical as to whether any deals have been done at that level yet.