The downward trend across the European steel market continued for CRC [EN 10130] as well, recording a decrease in the week to March 11.
Offers in Italy and Spain almost at the cost margin
Southern European CRC producers reported that offers were kept at low levels, with CRC prices trading close to the cost limit after trading in the €800-820 range last week. Italy's CRC prices, which started March at €820, decreased by €30 in the second week of March to trade at €790, SteelRadar data indicated.
CRC prices in Spain, which were traded at €835 in the first week of March, decreased by €22 to €813 EXW as of March 11.
German CRC prices also decreased
In Germany, which is located in Central Europe, the situation was not different, with CRC prices, which were last reported to traded at €820 on March 8, falling by €30 to €790 on March 11. Sources told SteelRadar that the European CRC market has been struggling lately and that a recovery in prices is not foreseen in the short term, in addition to the lack of significant demand.
While there are much cheaper import options outside Europe, it was emphasized that offers from abroad, which are considered to be competitive, have been driving down prices in the European CRC market. The CRC market is also expected to recover after the second quarter.
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