European domestic steel sections prices were stable week on week to July 12, as demand remained slow ahead of the upcoming summer holidays.
The Platts assessment of European medium sections (category 1, S235 JR) was flat at Eur820/mt delivered on July 12.
One distributor source in the Benelux region put a tradable level for category 1 medium sections around Eur820-Eur825/mt delivered Benelux. The source reported that mills were hoping to reduce production capacity, as demand remained weak and producers were hoping that reducing capacities might stabilize prices. The distributor also reported that there was no pressure from the import market, as domestic prices for long steel products in Europe were already significantly low. However, the distributor expected demand to remain weak, as customers usually held back on placing orders during the summer holidays and were returning to the market in September.
One Europe-based mill source said that mills were aiming for higher prices, however amid limited demand it was only successful to a certain extent. The source put a tradable level for beams around Eur820-Eur825/mt delivered.
Meanwhile, Platts assessed Northwest Europe rebar stable at Eur580/mt ex-works week on week on July 12.
One Europe-based mill source cited mill offers for rebar in Northwest Europe around Eur600/mt delivered.
One Europe-based trader indicated workable levels for rebar in Germany around Eur590/mt delivered, with tradable levels for rebar in the Benelux region around Eur600/mt delivered.
Author Rabia Arif