Fastmarkets’ weekly price assessment for steel sections (medium), domestic, delivered Northern Europe, was €770-800 ($827-859) per tonne on Wednesday, stable week on week.
The corresponding weekly price assessment for steel sections (medium) domestic, delivered Southern Europe, was €770-800 per tonne on Wednesday, unchanged from a week earlier.
Market sources said that there was little need for restocking due to weak demand, with one trader in Northern Europe expecting the poor demand for beams to endure throughout 2023 due to the low consumption by the construction industry.
“This year we will take all the losses in one [hit], and probably next year it will be better,” the same trader said.
A source in southeast Europe said that prices in Romania and Poland were stable in the week, around €710 per tonne CPT on a theoretical weight basis. The source added that offers from Turkey had been heard at $750-800 per tonne FOB.
Meanwhile, costs for hot-rolled coil feedstock in Europe have fallen in the past seven days amid low demand and expectations of a large volume of imports being cleared through customs in the fourth quarter.
Fastmarkets’ daily calculation of its steel hot-rolled coil index, domestic, exw Northern Europe, was €642.08 per tonne on Wednesday, down by €6.52 per tonne from €648.60 per tonne a week earlier.
Published by: Holly Chant