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| Steel beam |
Upward Price Adjustment Across Northern and Southern Europe
Steel beam prices in Europe saw an upward adjustment in the month leading up to February 19, following an increase in mill offers. Prices rose by €20-30 ($21-31) per tonne, although market acceptance of these higher levels remains uncertain.
Fastmarkets' monthly price assessments:
Northern Europe: €780-805 per tonne, widening by €15 from the previous range of €780-790 per tonne (as of January 15).
Southern Europe: €780-805 per tonne, also increasing by €15 from €780-790 per tonne month on month.
Market Reactions and Trade Impact
The announcement by former U.S. President Donald Trump to restore 25% Section 232 steel tariffs in March has prompted mixed reactions from European market participants. Some fear additional pressure on Europe’s struggling steel industry, while others believe existing EU steel safeguard measures will prevent a surge in imports from non-European countries.
A trader source noted that tariffs had limited impact in 2018 and emphasized that current EU protections will help shield the market from oversupply.
Rising Scrap Feedstock Costs
Turkey’s scrap feedstock market, a key indicator for steel pricing trends, experienced a notable increase:
Steel scrap HMS 1&2 (80:20 mix) North Europe origin, cfr Turkey: $351.58 per tonne, up $24.58 per tonne from $327 per tonne month on month.
This rise in scrap costs may contribute to further price increases in finished steel products, including steel beams, in the near term.
