Fastmarkets’ weekly price assessment for steel sections (medium) domestic, delivered Northern Europe was €800-830 ($863-895) per tonne on Wednesday, up by €20-30 per tonne from €780-800 per tonne a week earlier.
Similarly, Fastmarkets’ weekly price assessment for steel sections (medium) domestic, delivered Southern Europe was €800-830 per tonne on Wednesday, up by €20-30 per tonne from €780-800 per tonne a week earlier.
Sources said they believed that the higher market levels would be sustained into the beginning of 2024, but weak end-user demand remained a concern.
Upward movement was also reported in other parts of Europe by a southeastern European source, with prices for sections heard at €760 per tonne cpt in Poland and at €740 per tonne cpt in Romania, on a theoretical weight basis.
The same source added that they heard prices in both markets had increased by €10 per tonne since Friday December 1.
Meanwhile, hot-rolled coil feedstock costs continued to rise, adding some support to higher sections prices, sources said.
Fastmarkets’ daily calculation of its steel hot-rolled coil index domestic, exw Northern Europe was €682.13 per tonne on Wednesday, up by €9.63 per tonne from €672.50 per tonne week on week and by €39.63 per tonne from €642.50 per tonne month on month.
But trading slowed in the HRC market, with buyers growing more cautious about whether prices could be sustained in the new year.
Published by: Holly Chant