Press releases

European uncoated coils rise over 1%; US sheet weaker - TSI - 21 February 2012

The latest reference prices released by The Steel Index (TSI) show that its northern and southern European HR and CR coil reference prices have increased again over the last week, rising by 1.3-1.7%. US coil and plate prices were weaker and have fallen regularly since their mid-January highs. European rebar prices have fallen, though plate prices continued to firm.

In northern Europe, the average of daily HR coil reference prices was €7/tonne above last week’s average. CR coil price increased by 1.3% to €616/tonne ($809/t) , but HDGalvanised price slipped. Average lead-times for all coils are longer than last week. Northern European plate reference price also strongly increased to €643/t ($844/t).

The average of daily HR coil reference prices ex-works in southern Europe is €7/t above last week’s average at €536/t ($704/t), while CR coil price increased by 1.7% or €10/t. Average lead-times for uncoated coils are longer at just over 6 weeks. Southern European plate price is €4/t higher.

The US HR coil reference price FOB Midwest mill fell since last week to $728/short ton ($802/tonne) while CR coil price dropped $8/short ton. HD Galvanised coil price also fell. The average lead-times for all coils are shorter than last week. US plate reference price FOB Midwest mill was $14/st lower at $929/st ($1024/t).

The northern European rebar reference price ex-works is €12/tonne lower at €550/tonne ($722/t). The average LME billet price for last week fell sharply to $474/tonne, so the rebar-billet spread decreased to $248/t. The southern European rebar price dropped €6/t.

More details are available on TSI's website www.thesteelindex.com .

 

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