Southern European HRC steel prices flat at € 426 per tonne

The Southern European hot rolled cold (HRC) steel prices remained flat week-on-week at €426 a ton during the week ended June 03, as per the latest figures from the Steel Index.

In South Europe, HR coil spot prices were flat at €426/t. Market activity was pedestrian, with service centres closely observing happenings in Asia.

Import offers from Iran were in the €445-450/t CFR Italy range with no bookings heard at this level. Automotive negotiations continue, with more price clarity expected in the coming weeks.

North European HR coil prices ticked up a few euros this week to end today at €424/tonne ex-works. Official list prices from steelmakers ranged between €440-460/t, but trading activity this week indicated material was available for booking between €420-430/t.

With delivery lead-times stretching to almost two months from order, some market participants were willing to pay a premium to secure material more promptly.