Southern European HRC Steel prices remain flat at €412 per ton
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2016-08-27 View(s):
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The Southern European hot rolled cold (HRC) steel prices remained flat week-on-week at €406 a ton during the week ended July 01, as per the latest figures from the Steel Index.
With the majority of Q3 orders completed, buyers negotiating deals for the fourth quarter sought discounts with transactions concluding in a lower range of €420-430 a ton.
HRC offers from South European mills were wide between suppliers, with the most competitive asking prices reportedly around the €410 a ton mark.
While many European buyers are quite bearish in their price outlook for the end of the year, steel producers seem to be more optimistic.
Speaking at Platts Steel Markets Europe conference in Barcelona, ArcelorMittal noted that with the backlog of import arrivals now completed and new import orders limited, low inventory levels are expected to provide support for steel demand.
