Prices for European sections move down; search for 'rock bottom' continues

The price of steel hollow sections in Europe moved down on Wednesday November 3, with the market seeking the floor after recent price drops, sources have told Fastmarkets.

Fastmarkets' price assessment for steel sections (medium) domestic, delivered Northern Europe was ?,?1,150- 1,250 ($1,333-1,449) per tonne on Wednesday, down from ?,?1,230-1,275 per tonne one week previous.
Market sources have repeatedly said that hollow section prices have reached a market bottom despite the recent falls, but it is possible that prices could recover on rising energy costs, despite lower feedstock costs.

Fastmarkets' calculation...

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