European medium profile (category 1, S235 JR) was flat at €820/mt delivered on 12 July.
A distributor source in the Benelux region reported that the tradable level for category 1 medium profile for Benelux delivery was around €820-Euro825/mt. The source reported that producers are hoping to reduce their production capacities as demand remains weak and producers hope that capacity reductions could stabilise prices.
A Europe-based producer source said that mills have been targeting higher prices, but this has only been successful to some extent due to limited demand. Steel sections may trade around EUR820-825/mt on a delivered basis, the source said.
Rebar in Northwest Europe was stable at €580/mt ex-works on 12 July.
Offers for rebar in Northwest Europe were around €600/mt ex-works.
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