UNITED KINGDOM February 02 2017 5:25 PM

LONDON (Scrap Register): The Southern European hot rolled cold (HRC) steel prices advanced by €6 a ton to €534 a ton during the week ended January 13, as per the latest figures from the Steel Index.

The European steel market started to return to its normal levels of activity this week. South European buyers began placing orders after the holiday slowdown with a number of spot trades recorded. 

Deals were done in a wide price range, although the majority were concluded between €530-540 a ton. 

The North European market was quieter, with mills holding to their asking prices established in December and the index finished the week at €553 a ton. 

Import offers heard this week were between €535-550 a ton CIF Italy, and with a lack of lower priced imports many expect that domestic prices could be going upwards in the coming weeks.