“Prices are at the same level as last week, the market is very quiet,” a trader in Northern Europe said.
Fastmarkets’ weekly price assessment for steel beams, domestic, delivered Northern Europe, was €740-780 ($812- 856) per tonne on Wednesday, unchanged since July 19.
Similarly, Fastmarkets’ weekly price assessment for steel beams, domestic, delivered Southern Europe, was €740-780 per tonne on Wednesday, also flat since July 19.
But scrap feedstock prices in Turkey’s bellwether market rose during the pricing period, following fresh deals on Wednesday.
Improving scrap demand in alternative markets, such as India and Pakistan, prompted the increase in prices in Turkey where domestic demand for finished steel products still remains fairly weak.
Fastmarkets’ calculation of its daily index for steel scrap HMS 1&2 (80:20 mix) North Europe origin, cfr Turkey, was $353.34 per tonne on Wednesday, down by $9.61 per tonne from $343.73 per tonne on August 2.