LONDON (Scrap Register): Northern Europe hot rolled cold (HRC) steel prices slipped by €1 a ton week-on-week to €378 per ton in the week ended August 28, as per the latest figures released by The Steel Index.
According to TSI, North European HRC index ticked down to €378 a ton, with trades concluded in a wide €370-390 a ton range.
Market sentiment is prevailingly negative though, as declining HRC import prices into Europe and increased production by Ilva are putting downward pressure on domestic mills.
Activity in the European steel markets remained lackluster, with only a limited number of transactions recorded the week.
The situation in South Europe is less clear, as many of the market participants are only starting to return from their holidays.
Zhejiang Yaang Pipe Industry Co., Limited (www.yaang.com)