Fastmarkets’ weekly price assessment for steel beams, domestic, delivered Northern Europe, was €720-780 ($773- 838) per tonne on Wednesday, widening downward by €30 per tonne from €750-780 per tonne on September 6.
One trader in Northern Europe said that despite low construction consumption there were “a lot of orders for stock replenishment” at around the $750-per-tonne level.
But sources said purchasing activity varied from place to place, with a second market participant reporting little need for restocking amid weak demand.
Fastmarkets heard that mills were pushing for higher levels, however sources were skeptical of the tradability of material being sold at increased prices.
Meanwhile, ferrous scrap prices in Turkey’s bellwether market remained rangebound in the week, with the market muted due to weak finished sales and negative economic conditions.
Fastmarkets’ calculation of its daily index for steel scrap heavy melting scrap 1&2 (80:20 mix) North Europe origin, cfr Turkey, was $370.24 per tonne on Wednesday, up $1.23 per tonne from $369.01 per tonne on September 6.
Fastmarkets’ weekly price assessment for steel beams, domestic, delivered Southern Europe, was €720-790 per tonne on Wednesday, widening from €750-780 per tonne on September 6.
Published by: Holly Chant
