The Southern European hot rolled cold (HRC) steel prices advanced further by €2 per ton week-on-week at €394 per ton in the week ended April 17, as per the latest figures from the Steel Index.
Steel demand in South Europe remained subdued, although market participants pointed to the better performance of the automotive sector.
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HRC prices were stable, and Italian mills were heard offering HRC at €400-405 per ton (ex-works), while many spot deals were concluded about €10 per ton lower. Import offers were reportedly in the €370-380 per ton range (CFR Italian port).
However, North European HRC market maintained its established status quo of stable demand and prices in the €400-405 per ton range.
Indicating a steady flow of orders to the mills, capacity utilisation in Germany was reported to stand at 90% during Q1 this year.