Steel hollow sections market in Europe quiet, prices unchanged

The steel hollow sections market in Europe remained stable in the week to Wednesday February 22, with minimal trading because of weak demand, market sources said.
Fastmarkets’ weekly price assessment for steel sections (medium), domestic, delivered Northern Europe, was €970-980 ($1,032-1,042) per tonne on Wednesday, unchanged from a week earlier.

The corresponding weekly price assessment for steel sections (medium), domestic, delivered Southern Europe, was also €970-980 per tonne on Wednesday, similarly stable week on week.

Sections prices increased last week due to rising costs for hot-rolled coil feedstock, but the market remained quiet amid low consumption by the construction sector, market participants said.

HRC feedstock costs have risen over the past seven days, but some sources expected a downtrend in these prices due to low end-user demand.

Fastmarkets’ daily calculation of its steel hot-rolled coil index, domestic, exw Northern Europe, was €776.00 per tonne on Wednesday, up by €9.12 per tonne from €766.88 per tonne a week earlier.

Published by: Holly Chant