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Southern European HRC Steel prices remain flat at €412 per ton

Update:2016-08-27   View(s):1066   Keywords :
The  Southern European hot rolled cold (HRC) steel prices remained flat week-on-week  at €406 a ton during the week ended July 01, as per the latest figures from the  Steel Index.

With the majority of Q3 orders completed, buyers negotiating  deals for the fourth quarter sought discounts with transactions concluding in a  lower range of €420-430 a ton. 

HRC offers from South European  mills were wide between suppliers, with the most competitive asking prices  reportedly around the €410 a ton mark. 

While many European buyers are  quite bearish in their price outlook for the end of the year, steel producers  seem to be more optimistic. 

Speaking at Platts Steel Markets Europe  conference in Barcelona, ArcelorMittal noted that with the backlog of import  arrivals now completed and new import orders limited, low inventory levels are  expected to provide support for steel demand.