Similarly, Fastmarkets’ weekly price assessment for steel beams, domestic, delivered Southern Europe, was €700-770 per tonne on Wednesday, narrowing down by €60 per tonne from €760-770 per tonne on February 28.
“Prices are under pressure because of low demand,” a trader in Northern Europe told Fastmarkets.
Sources were pessimistic about expectations for demand in the second quarter of the year, amid weak consumption in the construction sector.
Scrap feedstock costs in Turkey’s bellwether market declined over the month, meanwhile, due to weak economic conditions and slow trading during the Islamic holy month of Ramadan.
Fastmarkets’ daily index for steel scrap HMS 1&2 (80:20 mix) North Europe origin, cfr Turkey was calculated at $375.43 per tonne on Wednesday, down by $30.03 per tonne from $405.46 per tonne on February 20.
