Southern Europe hot rolled cold (HRC) steel prices up by €3 per ton week-on-week to €408 per ton in the week ended August 29^th, as per the latest figures released by the The Steel Index.

According to TSI, with increased market activity, spot prices in Europe started to move upwards.

South European producers are widely expected to follow suit with similar announcements, although some mills are reportedly still aggressively discounting hot rolled cold (HRC) steel with offers as low as €403-404 a ton.

Some North European producers tested the market with €20 a ton increases in HRC, bringing offer prices to €440-450 a ton exworks. They cited low availability of spot material and longer lead-times as reasons for the price hike. 

A further 2,000 tons of North European hot rolled cold (HRC) steel  swaps for August and September contracts were cleared the week.