They said that offers for beams had increased by around €30 ($33) per tonne in the week to Wednesday, up to about €750-770 per tonne.
But buyers were unwilling to book at higher levels due to falling end-user sales prices.
Fastmarkets’ weekly price assessment for steel beams, domestic, delivered Northern Europe was unchanged at €730-750 ($795-817) per tonne on Wednesday.
Similarly, Fastmarkets’ weekly price assessment for steel beams, domestic, delivered Southern Europe was static at €730-750 per tonne on Wednesday.
“There’s no buyer appetite for higher prices in the market,” one trader said.
But production cuts at one major mill and some other producers, mean that supplies in Europe are gradually reducing.
Trading was slow over the past seven days and scrap feedstock costs in Turkey’s bellwether market have continued to climb.
Fastmarkets’ calculation of its daily index for steel scrap HMS 1&2 (80:20 mix) North Europe origin, cfr Turkey was $384.24 per tonne on Wednesday, up $5.31 per tonne week on week from $378.93 per tonne, and up by $36.59 per tonne month on month.
Published by: Holly Chant
