European steel mills are expected to push for further price increases for medium sections in the near future as order books remain strong, market participants told S&P Global Platts in the week ended Jan. 20. This was reported by the Eurometal website.
Highest level since September 2008
The European Platts price for medium sections (category 1, S235 JR) was assessed at 735 euros/mt delivered on January 20, stable from the previous week and holding at the highest level since September 2008, when the assessment was 835 euros/mt delivered.
A trader source reported a deal for 2,000 mt at Eur730/mt delivered Benelux in the week ending January 15, with prices expected to rise to as high as Eur760/mt delivered Benelux in the short term.
End-user section prices are being increased by mills
“Mills are gradually pulling up the end-user price,” the source said. “Our current selling price is just above the new purchase price and demand is okay, but there is a [price] gap emerging for February end-user sales bought in January – so we’ll see.”
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