Northern Europe HRC Steel prices drop to 12-month low of €413 a ton
Northern Europe hot rolled cold (HRC) steel prices dropped by €7 per ton week-on-week to €413 per ton in the week ended November 07 this year, as per the latest figures released by The Steel Index.
European HRC prices came under pressure from persistently weak demand in the region and mills cut their asking prices in order to close deals.
In Northern Europe buyers were able to secure discounts of around €10 a ton to the previous week’s price level and the benchmark index dropped to a 12-month low level of €413 a ton.
The South European market saw a slight pick-up in trading activity, as several mills reduced their HRC offers to €410 a ton (ex-works) - a price level appealing to many buyers.