EU steel section prices soften in quiet market ahead of holidays

European domestic steel sections prices softened on the week on Dec. 21, with demand quiet ahead of the upcoming holidays.

Platts assessed European medium sections (category 1, S235 JR) down Eur15 to Eur980/mt delivered on Dec. 21.

“Prices are almost stable,” one Benelux-based distributor said. “They can be fluctuating around Eur10/mt on week, but they are almost flat.”

The distributor said mills wanted to increase prices, and that current sales seemed to be from stocks and for December deliveries. However, for January shipments, the distributor saw prices around Eur20-Eur30 higher, and cited a workable level for medium sections category 1 around Eur980-Eur985/mt delivered.

Another distributor source in the Benelux region indicated a workable level for beams around Eur980/mt delivered. The source noted that demand was mostly quiet ahead of the upcoming holidays.

One Europe-based mill source also cited slow demand, adding that there was some activity in the market, but it was weak. The source put a tradable level for category 1 medium section around Eur970-Eur990/mt delivered.

Meanwhile, Platts assessed TSI Northwest Europe Rebar down Eur5 week on week at Eur745/mt ex-works to Dec. 21.

Another Europe-based mill source indicated a workable level for rebar in Northwest European market around Eur780-Eur790/mt delivered, adding that Eur770/mt delivered might also be possible, but lower that that was not. One seller source indicated a workable level of Eur745/mt delivered, while a third Benelux-based distributor source put a tradable value for domestic rebar at Eur765/mt delivered.

Platts is part of S&P Global Commodity Insights.

— Rabia Arif, Staff