Southern European HRC Steel prices slip to €404 per ton

UNITED KINGDOM March 02 2015 4:33 PM
LONDON (Scrap Register): Southern European hot rolled cold (HRC) steel prices slipped by €1 per ton week-on-week to €404 per ton in the week ended February 20, as per the latest figures released by The Steel Index.

Despite pressure from the lower-priced imports, spot HRC prices in Southern Europe remained fairly stable, with TSI’s benchmark index €1 a ton lower from 1-week ago to finish at €404 a ton.

Problems at Italy’s largest steel producer – Ilva, continued, with a truck drivers’ strike blocking deliveries from the mill, allowing other suppliers to book and fulfil orders instead.

North European producers held offers steady in the €410-420/t range, but some buyers managed to secure discounts in the absence of greater spot market activity, with trades closer to the €405/t mark.

Meanwhile, Feb-Mar and Apr-May North European HRC swaps were cleared on LCH. Clearnet this week, both basis TSI.