EUROPE BEAMS: Market pauses ahead of scrap settlements

The price for steel H-beams in Europe was unchanged in the week ended Wednesday March 11, while the market waited for the upcoming monthly European scrap settlements, sources have told Fastmarkets.

Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?535-570 ($607-647) per tonne on Wednesday, unchanged week on week.
Many European market participants were now waiting for the monthly settlement for ferrous scrap, the feedstock for H-beams manufacture, to indicate market direction. This was due next week, with expectations among some market participants of an increase of ?,?10-15 per tonne.

Typically, the European monthly prices follow the trend in international scrap prices,...

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