EU rolled metal market prepares for price increases

The Northwest European long steel market is preparing for price increases in the first week of September.

Consolidated steel price sentiment has been positive over the past two months, although scrap prices are expected to fall in September in line with international market conditions.

“Scrap is going down, but prices are seasonal. The factories know that in September-November, consumers will have to buy based on seasonal demand, ”said a trader from the Benelux.

Sources confirmed that rolled metal producers in northwest Europe are booked for the next eight weeks. One buyer said he had already heard higher deals this week. "If you order today, the lead time is October or November."

Rebar prices have also stabilized, with higher prices expected next week.

Meanwhile, the import market remains unattractive, and market participants are afraid of violating the protective quota.