Northern Europe Hot Rolled Coil Steel Prices Hikes to 437 Euros/t

LONDON (Scrap Monster): Based on the latest figures by The Steel Index, Hot rolled coil (HRC) Steel from Northern Europe edged up to about 437 euro per ton in the week ended April 11, 2014.

It was reported that after the recent stability in the North European Coil market, Arcelor Mittal decided to raise the coil prices by 20 euro per ton for the June shipments. Arcelor Mittal is the world’s leading integrated steel and mining company.

The results of this hike were yet to be observed, with most of the consumers already have completed restocking for the second quarter. Northern Europe hot rolled coil second Quarter swap traded at just below 440 euro per ton earlier this week, based on the reports of a London based broker.

However, South European consumers continued to test where the price might end because HR coil transaction costs were seen consolidating around 400 euros a ton.