Fastmarkets’ weekly price assessment for steel beams domestic, delivered Northern Europe was €740-780 ($798-841) per tonne on Wednesday, up by €10-20 per tonne from €730-760 per tonne a week earlier.
Similarly, Fastmarkets’ weekly price assessment for steel beams domestic, delivered Southern Europe was €740-780 per tonne on Wednesday, up by €10-20 per tonne from €730-760 per tonne a week earlier.
Sources said that producers have been pushing up offer prices ahead of the end of the year to stimulate buying and to start 2024 trade at higher market levels.
But demand remains weak due to low consumption from the construction sector, which has led market participants to express uncertainty over buyers’ willingness to accept upward movement in prices in the follow-up to and first quarter of next year.
Meanwhile, scrap feedstock costs in Turkey’s bellwether market continued to increase over the past seven days.
Fastmarkets’ calculation of its daily index for steel scrap HMS 1&2 (80:20 mix) North Europe origin, cfr Turkey was $409.59 per tonne on Wednesday, up by $24.44 per tonne from $385.15 per tonne on November 29.
But Turkey’s scrap market grew quiet in the pricing period due to mills muting trade to assess domestic steel demand in relation to higher scrap offer prices.
Published by: Holly Chant