The price of steel H-beams in Europe remained rangebound this week with a second wave of Covid-19 restrictions in the region dulling market sentiment, sources told Fastmarkets on Wednesday October 28.
*** price assessment for H-beams in Europe , North
Fastmarkets’ weekly price assessment for H-beams in Europe , domestic, delivered Northern Europe, was €۵۴۰-۵۷۰ ($۶۳۸-۶۷۴) per tonne on Wednesday, unchanged week on week.
Prices have been unchanged for the past four weeks despite producers announcing and pushing for price increases, which have failed to wiin acceptance in the market.
H-beams in Europe producers have been pushing for price increases since September, but have not yet been able to get them above €۵۷۰ per tonne. Customers have kept their orders to a minimum, and the October monthly settlements for the price of scrap, the feedstock for beams production, have remained largely steady both in Italy and in Germany.
*** Covid-19 second-wave
“Prices are really stable. Covid-19 second-wave fears are even worse than last week and it’s affecting sentiment, but not orders and shipments. Customer demand is very short – they are reluctant to book volumes,” a Southern European producer source said.
“Things will be slowing down for the rest of the year, but August to October were positive months. I don’t think the price will change,” he added. “This kind of sentiment will also affect scrap and the price will stay stable, even on the international market.”
*** price assessment for H-beams in Europe , South
Fastmarkets’ weekly price assessment for steel beams, domestic, delivered Southern Europe, was €۵۴۰-۵۷۰ per tonne on Wednesday, flat week on week.
Despite the sentiment, some restocking behavior was to be expected in the coming weeks.
“Mills have been doing their utmost to tell everyone there will be a [price] increase,” a distributor said. “During this period, there is always a small price increase. Everybody is going to buy, so mills have work until the end of the year.”
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