Prices for hollow steel sections in Northern Europe moved downward on Wednesday January 23 due to falling costs for feedstock materials, market participants have told Fastmarkets.
Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe fell by ?,?5 per tonne to ?,?630-640 ($716-727) per tonne delivered on January 23, from ?,?635-645 ($726-738) delivered on January 16."Prices [for hollow sections] are lower. There is a lot of hot-rolled coil [HRC] [coming into Europe] which could influence the price of tubes in the next couple of months. For us, this is good," a trader said."We see prices under downward pressure because of high stock levels...