Fastmarkets’ weekly price assessment for steel beams, domestic, delivered Northern Europe, was €760-790 ($822-854) per tonne on Wednesday, unchanged from a week earlier.
Similarly, Fastmarkets’ weekly price assessment for steel beams, domestic, delivered Southern Europe, was €760-790 per tonne on Wednesday, stable week on week.
Market sources said that trading was slow because there was little need for restocking.
“Stock levels are normal in relation to the [weak demand environment],” a trader in Northern Europe said.
He added that mills have been booking orders on a limited basis, with market participants in wait-and-see mode due to their uncertainty over consumption prospects.
Meanwhile, scrap feedstock costs in Turkey’s bellwether market have dropped significantly in the past seven days amid poor finished long steel sales.
Fastmarkets’ calculation of its daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey, was $405.46 per tonne on Wednesday, down by $10.56 per tonne week on week from $416.02 per tonne.
Published by: Holly Chant
