Fastmarkets’ weekly price assessment for steel sections (medium) domestic, delivered Northern Europe was €820-890 ($892-969) per tonne on Wednesday, up by €20-30 per tonne from €800-860 per tonne one week prior.
Fastmarkets’ weekly price assessment for steel sections (medium) domestic, delivered Southern Europe was €820-890 per tonne on Wednesday, up by €20-30 per tonne week on week from €800-860 per tonne.
“Demand is slightly higher, but the cost of production is also increasing, therefore all mills are offering at a higher price,” one trader in northern Europe told Fastmarkets.
Trading in southern Europe is “good for the moment,” a producer said, adding that “some countries are a little bit better off and some a little worse off [in terms of demand].”
One of the main drivers pushing up production costs has been rising hot-rolled coil feedstock prices, Fastmarkets heard.
Fastmarkets’ daily calculation of its steel HRC index domestic, exw Northern Europe was €746.67 per tonne on Wednesday, up by €11.04 per tonne from €735.63 per tonne week on week, and up by €51.17 per tonne month on month.
European mills managed to push up prices for HRC in January amid good order books and tight supply.
Published by: Holly Chant
