European medium sections prices push higher as mill rises hold

Domestic Northern European medium sections prices have edged up with an early-September rise of €10-15 ($13-20) per tonne holding steady, market sources told Metal Bulletin sister title Steel First on Wednesday September 11.

Prices for Northern European hollow square sections for September delivery are €560-570 ($742-756) per tonne, narrowing towards the top of last week’s €550-570 range ($729-756).

Transacted prices now reflected the higher mill list prices offered in mid-August, sources said.

“We can’t tell what October will bring. Confidence at [Northern European] mills will be pretty high,” a Swedish trader said.

Demand has risen ahead of further expected price rises, market sources said.

“Everybody expects prices will be higher in the next few weeks so they have bought a lot now. Nobody wants to buy at the top price,” a Netherlands-based stockholder said.

“I hope the market becomes a bit more stable,” a trader in the Netherlands said. “If they push too hard then nobody will buy.”

Northern Europe delivered prices for Italian sections are roughly equal to delivered prices for Northern European-produced sections.

Northern Europe ex-works prices are €530-540 ($703-716) per tonne.

In Southern Europe, locally traded medium sections prices are €530-550 ($703-729) per tonne and ex-works prices for medium sections are €505-525 ($669-683) per tonne, for September delivery.

Lisa Barrington 
lbarrington@steelfirst.com