Fastmarkets’ monthly price assessment for steel sections (medium) domestic, delivered Northern Europe was €750-790 ($804- 847) per tonne on Wednesday, down by €30-40 per tonne from €780-830 per tonne a month earlier.
Fastmarkets’ monthly price assessment for steel sections (medium) domestic, delivered Southern Europe was €750-790 per tonne on Wednesday, down by €30-40 per tonne month on month from €780-830 per tonne.
Hot-rolled coil feedstock costs also fell in the month. However, sources said they believe raw material prices will rise next month due to an expected 15% cap on HRC other countries safeguarding quotas.
Fastmarkets’ daily calculation of its steel hot-rolled coil index domestic, exw Northern Europe was €630.88 per tonne on Wednesday, down by €7.45 per tonne from €638.33 per tonne a month earlier on May 20.
HRC cost levels were “too high” compared with sales prices for sections, leading to slim profit margins, a producer source said.
“It will be very difficult to make a profit if the raw material will increase due to changes to the safeguard quotas,” the producer source said. “Sections prices will have to increase more with the raw material.”
Consumption from the construction sector continued to be weak steel demand in Europe will begin to slow even more in the coming weeks, with summer holidays in some countries and regions in northern Europe commencing, sources said.
Published by: Holly Chant
