“The market slowed down not only because of the [summer] holidays,” a trader told Fastmarkets. “It has been quiet for weeks.”
Fastmarkets’ monthly price assessment for steel sections (medium) domestic, delivered Northern Europe was €750-775 ($819-847) per tonne on Wednesday, narrowing downward by €15 per tonne from €750-790 per tonne on June 19.
Similarly, Fastmarkets’ monthly price assessment for steel sections (medium) domestic, delivered Southern Europe was €750-775 per tonne on Wednesday, narrowing downward by €15 per tonne from €750-790 per tonne on June 19.
But a second trader said demand had increased slightly in the past two weeks due to low stocks and reduced production.
Meanwhile, hot-rolled coil feedstock prices fell over the month, with trade slow due to the summer holiday period. HRC market participants also shared concerns around slow end-user demand and low order intake from key end-user sectors.
Fastmarkets’ daily calculation of its steel hot-rolled coil index domestic, exw Northern Europe was €627.75 per tonne on Wednesday, down by €6 per tonne from €633.75 per tonne a month earlier.
Published by: Holly Chant
