The domestic European prices for medium sections rose slightly in the week ended Aug. 14, as some mills pushed offers higher just as the holiday season is ending across most European countries.
“Mills announced increases,” a distributor source said. “The increase is mainly due to higher energy costs in light of heightened geopolitical tensions.”
Sources also noted that whether the price increases are accepted by buyers remains to be seen. Demand remains low, and market participants are negotiating to get better prices, sources said.
Platts assessed the price of European medium sections at Eur770/mt delivered Benelux, up Eur10/mt on the week.
A deal for 1,000 mt was reported at Eur780/mt delivered Benelux.
Offers for a few hundred mt were reported at Eur780/mt delivered Benelux, while tradable values were reported at Eur765-770/mt delivered Benelux.
Meanwhile, Platts assessed the price of Northwest European rebar stable on the week at Eur615/mt ex-works.
A deal for 500mt was reported at Eur610-615/mt ex-works Benelux.
Devbrat Saha
