EUROPE SECTIONS: Market continues to slip ahead of quota renewal

Prices for hollow steel sections in Europe moved down this week because of poor demand, with eyes now turning to the upcoming renewals of the EU import quotas, sources told Fastmarkets on Wednesday May 13.

Fastmarkets' weekly price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?580-590 ($628-639) per tonne, down from ?,?580-595 per tonne one week before.
The EU import quotas will be renewed in July, refreshing the allowances for countries such as Turkey, Belarus and Russia, which have exhausted their permitted tonnages for the current period.
"It's not very busy, but demand is normal considering there are some public holidays this month," a trader said.

"Prices have stabilized for us, [but] next month...

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