The price of Europe beams in has already gone up this week, ahead of mills returning to the market after the New Year holiday break, with further large increases expected, sources told Fastmarkets on Wednesday January 6.
*** steel beams
Fastmarkets’ weekly price assessment for steel beams, domestic, delivered Northern Europe, was €۷۰۰-۷۲۰ ($۸۵۹-۸۸۴) per tonne on Wednesday, up from €۶۵۵-۶۸۰ per tonne in the previous assessment on December 30.
The price of H-beams has jumped by $140-150 per tonne from $550-580 per tonne on December 2 following a large rise in feedstock costs in Europe and on the international market, in addition to consistently solid order books at mills.
Producers withdrew from the market late in December due to the volatility of scrap prices, which led to beam prices becoming outdated within days, or even hours.
*** steel scrap
On the international market, Fastmarkets calculated the daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey, at $464.17 per tonne on Tuesday January 5. It had been $462.78 per tonne on December 23, before many began their Christmas break.
The index was up month-on-month from $352.47 per tonne on December 4.
Mills have not fully returned to the market this week, and were still seeking clarity on scrap prices before offering new prices for beams, but many agreed that a large increase was imminent, with no material available for less than €۷۰۰ per tonne.
*** steel beams in Southern Europe
Fastmarkets weekly price assessment for steel beams, domestic, delivered Southern Europe, was €۷۰۰-۷۲۰ per tonne on Wednesday, up from €۶۵۵-۶۸۰ per tonne on December 30.
“From next week onward, the market will be fully back, although there are still some holidays. We still don’t know where we are with scrap… Dealers are not yet offering because they expect higher prices. There is a certain tightness,” a European mill source said.
“Most companies are still closed. Many are chatting about expectations for scrap. We haven’t come back to the market with quotations [but] we will next week. We want to be able to keep a price for a few weeks,” a Southern European producer source said.
“There is no downside,” a distributor added. “When scrap is like this, and there’s a shortage in the market, [beam] prices will not go down.”
Reference: metal bulletin
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