Fastmarkets’ weekly price assessment for steel sections (medium), domestic, delivered Northern Europe, was €790-820 ($886- 919) per tonne on Wednesday, down by €20-40 per tonne from €810-860 per tonne a week earlier.
With most of Northern Europe on holiday, the market there was very quiet, but lower prices have been heard in the past seven days, markets participants said.
But while rolling and steel mills typically halt production over the summer break, muting the market, one trader in Northern Europe said that trade has been slower than in previous years.
A second trader heard offers around €820-840 per tonne delivered to Germany from Bulgaria, with prices higher than the Northern Europe domestic delivered prices due to higher transport costs.
In Southern Europe, the holiday period usually comes later, in August, Fastmarkets heard.
A producer source in that region said that the market there was more or less unchanged in the past week.
Meanwhile, hot-rolled coil feedstock prices fell in the assessment week, with purchasing scarce due to the seasonally muted trading.
Fastmarkets’ daily calculation of its steel hot-rolled coil index, domestic, exw Northern Europe, was €666.25 per tonne on Wednesday, down by €13.75 per tonne from €680.00 per tonne a week earlier.
The weekly price assessment for steel sections (medium), domestic, delivered Southern Europe, was €790-820 per tonne on Wednesday, down by €20-40 per tonne week on week from €810-860 per tonne.
Published by: Holly Chant