EUROPE SECTIONS: Prices drop because of low demand
The domestic prices of hollow steel sections in Northern and Southern Europe fell this week, pressured lower by poor demand, market sources said.
Fastmarkets’ price assessment for steel sections (medium), domestic, delivered Northern Europe, was €620-630 ($696-708) per tonne on Wednesday July 17, down from €625-640 one week earlier.
“Some mills are decreasing capacity but it seems not to have worked. Next week onward until September is not the busiest of times. Demand is low so I don’t think there will be a price rise,” a trader said.