Fastmarkets’ weekly price assessment for steel sections (medium) domestic, delivered Northern Europe was €750-800 ($802- 855) per tonne on Wednesday, widening downward by €20 per tonne from €770-800 per tonne on September 13.
Similarly, Fastmarkets’ weekly price assessment for steel sections (medium) domestic, delivered Southern Europe was €750-800 per tonne on Wednesday, widening downward by €20 per tonne week on week from €770-800 per tonne.
“We are not placing very large orders at this moment,” one trader in Northern Europe said.
Sources in Northern and Southern Europe said trading was very limited in the past seven days amid slow demand and high raw material prices.
Hot-rolled coil feedstock prices fell in the week, however, with trading at low levels and buyers postponing restocking.
Fastmarkets’ daily calculation of its steel hot-rolled coil index domestic, exw Northern Europe was €634.88 per tonne on Wednesday, down by €7.20 per tonne from €642.08 per tonne a week earlier.
Traders said sections stock levels have been quite low, with buyers only purchasing limited volumes.
One market participant in Southern Europe said traders that don’t currently need to buy material are waiting until the start of the next EU safeguarding import quota period on October 1.
They added that they expect imported sections to be on offer at a €50-100 per tonne discount, depending on size and thickness.
But a second market participant in northern Europe said they don’t think sections imports will be flooding the market in October due to weak end-user demand and long — three to four-months — lead times.
Published by: Holly Chant