UNITED KINGDOM October 07 2015 3:25 PM
LONDON (Scrap Register): The Southern European hot rolled coil (HRC) steel prices stayed flat week-on-week at €332 per ton ex-works in the week ended September 25, as per the latest figures from the Steel Index.
According to TSI, European Hot Rolled coil benchmark experienced a see-saw week with spot prices falling heavily to new record low’s earlier in the week before recovering a few euros higher.
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Italian re-roller Marcegaglia announced it would make ‘minor adjustments’ to prices for steel products, following an updated price list earlier this year.
According to Platts reports, the re-roller said demand fundamentals had remained sound but fears over falling steelmaking costs meant buyers remained cautious.
Indeed, other purchasers noted that a softening of Hot Rolled coil prices in Asia had also side-lined many in Europe, in the hope that domestic steel prices would follow suit downwards.
