German stockholding steel distributors’ flat products prices continued on a downward trend in August, while some long products stabilised, and in fact gained.
According to the table of monthly average sale prices by stockholders as compiled by their association, BDS, the price for hot-rolled sheet in August was €824/tonne ($917), down €5.30/t from July. HR sheet prices have been tumbling continuously from the peak reached in February at €884/t.
The downward trend since February has been similar for cold-rolled sheet, which in August came to €905/t – down €9.50 – and coated sheet at €972/t, which saw the steepest on-month drop of all products, down €15.40. Quarto plate fell by €12 to €900/t, after a slight rebound in July.
In the category of long products, price increases were achieved for sections, which rose by €9.30 to €843/t, and for wide flange beams, by as much as €12.20 to €848/t. The increase is not as steep as the €30-50/t hike obtained by mills for sections since August.
Supply shortages at European mills have created a bit of a restocking panic at warehouses, one observer tells Kallanish. Another buyer expressed doubt that he can hand down the price increase to construction companies, which are suffering the most among players in the steel chain. Still, it is likely that stockholders’ sales prices will rise for another month or two, with a delay following mill price hikes.
Rebar prices meanwhile rose by €14.20/t between June and August.
Christian Koehl Germany
