European steel profile prices moved lower in the week to Wednesday 8 November, with sources expecting the market to remain subdued for the rest of the year.
The weekly price assessment for steel section for Northern Europe delivery, local, was at €730-750 ($780-802) per tonne on Wednesday, down from €740-750 per tonne a week earlier.
Sources reported production cuts and plant shutdowns in recent weeks, while consumption from the construction sector weakened amid the unfavourable macroeconomic environment.
Weak demand also affected the import market.
Scrap costs increased in Türkye's frontier market despite weak finished steel sales.
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