The market was silent due to the summer slow period, with market sources expecting poor consumption by the construction sector to continue to weigh on demand when the summer break ends in September.
Fastmarkets’ weekly price assessment for steel sections (medium), domestic, delivered Northern Europe, was €790-820 ($861-894) per tonne on Wednesday, unchanged week on week.
Similarly, the weekly price assessment for steel sections (medium), domestic, delivered Southern Europe, was also €790-820 per tonne on Wednesday, and also stable from a week earlier.
Weak construction consumption was also a concern in the hot-rolled coil feedstock market, with a strong September rebound in prices seen to be unlikely.
But HRC market participants said that there would be some need for restocking in September, which could put some upward pressure on the market.
Fastmarkets’ daily calculation of its steel hot-rolled coil index, domestic, exw Northern Europe, was €650.21 per tonne on Wednesday, up by €7.50 per tonne compared with €642.71 per tonne a week earlier.