Fastmarkets’ weekly price assessment for steel beams, domestic, delivered Northern Europe, was €760-790 ($823-856) per tonne on Wednesday, widening downward by €10 per tonne from €770-790 per tonne a week earlier.
Similarly, Fastmarkets’ weekly price assessment for steel beams, domestic, delivered Southern Europe, was also €760-790 per tonne on Wednesday, also widening downward by €10 per tonne from €770-790 per tonne a week earlier.
Offers by major producers to the German market were heard at €760 per tonne, while higher prices were estimated in other parts of Europe.
Consumption by the construction sector has been weak across Europe, but Germany has been significantly affected by weak end-user demand and high energy prices. The country’s steel output last year was at its lowest volume since the financial crisis of 2009, according to national steel industry association WV Stahl.
Meanwhile, scrap costs in Turkey’s bellwether market remained firm, following price rises in November and December last year.
Fastmarkets’ calculation of its daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey, was $413.47 per tonne on Wednesday, up by $5.85 per tonne week on week from $407.62 per tonne.
Published by: Holly Chant
