Fastmarkets’ weekly price assessment for steel sections (medium) domestic, delivered Northern Europe was €770-800 ($859- 892) per tonne on Wednesday, down by €20 per tonne from €790-820 per tonne.
Similarly, Fastmarkets’ weekly price assessment for steel sections (medium) domestic, delivered Southern Europe was €770-800 per tonne on Wednesday, down by €20 per tonne from €790-820 per tonne on August 30.
Despite mills targeting price rises, demand and sentiment remain weak, sources said.
But raw materials costs are expected to rise and that could stimulate trading activity, sources said.
“We expect prices to go up in the coming days, based on higher input costs. Prices are unworkably low at the moment,” a buyer source said.
But other buyers were skeptical that any upward price movements would be achievable given the weak end-user demand.
Fastmarkets’ calculation of its daily index for steel scrap HMS 1&2 (80:20 mix) North Europe origin, cfr Turkey, was $369.01 per tonne on Wednesday, stable week-on-week.
Published by: India-Inés Levy
