Fastmarkets’ weekly price assessment for steel beams, domestic, delivered Northern Europe was €720-780 ($764-827) per tonne on Wednesday, unchanged from a week earlier.
Fastmarkets’ weekly price assessment for steel beams, domestic, delivered Southern Europe was €720-780 per tonne on Wednesday, flat week on week.
One trader in northern Europe reported offers for the product at €800 per tonne, although bookings at these levels were not confirmed by market participants.
Sources said they did not think prices would fall further, with mills unwilling to sell at lower prices.
Trading remained limited amid ongoing weak demand as a result of slow construction consumption.
Meanwhile, scrap feedstock in Turkey’s bellwether market moved down amid weak finished steel demand in the country’s domestic and export markets.
Fastmarkets’ calculation of its daily index for steel scrap HMS 1&2 (80:20 mix) North Europe origin, cfr Turkey was $359.50 per tonne on Wednesday, down $4.13 per tonne week on week from $363.63 per tonne, and down $10.48 per tonne month on month.
Published by: Holly Chant