European steel beam prices flat amid slow Christmas season, disruption on Moselle river
Fastmarkets’ monthly price assessment for steel beams, domestic, delivered Northern Europe was €780-790 ($816- 827) per tonne on Wednesday, unchanged from November 20.
Similarly, Fastmarkets’ monthly price assessment for steel beams, domestic, delivered Southern Europe was €780-790 per tonne on Wednesday, also flat month on month.
Sources told Fastmarkets that mills were offering material at prices €20 per tonne higher, but said the raised levels were not workable, with trade slowing ahead of the Christmas holiday period in already negative demand conditions.
Prices were also stable despite the disruption to logistics in Germany caused by a crash at the Müden lock on the Moselle river on December 8, which blocked the passage of 74 ships on their way to the river Rhine – one of Europe’s key routes for metals shipments including aluminium and steel.
As of Wednesday, 18 ships had left the lock heading in the direction of the Rhine, with the emergency, temporary closure of the lock chamber made possible using nine welded steel beams, according to Germany’s Federal Waterways and Shipping Administration (WSV).
With permanent repairs expected to last until Spring, sources said the incident could have a big impact on the delivery of materials, because the alternative road or rail transport options are far more expensive.
Overall, while the cost of steel scrap in Turkey’s bellwether market has fallen so far in December, sources said, prices climbed by 1.25% day-on-day on Wednesday due to the current supply and logistics challenges in Europe and increased demand from Turkish mills for January cargoes.
Fastmarkets’ calculation of its daily index for steel scrap HMS 1&2 (80:20 mix) North Europe origin, cfr Turkey was $348.12 per tonne on Wednesday, down $3.91 per tonne month on month from $352.03 per tonne.
