European HRC and CRC market records a downturn

Following the downturn on April 1, the European HRC market continued to decrease in the week to April 8 amid weak demand and oversupply.

According to SteelRadar data, Germany's HRC market, which dropped by EUR 25 to EUR 665 on April 1, traded down by another EUR 10 to EUR 655 in April, while the CRC market remained steady at EUR 735. Sources underlined that production cuts and the recent shutdown of blast furnaces may have prevented the decrease in prices, underlining the need to reduce production.

In Italy, HRC prices dropped significantly, while Spain remained steady

Spain's HRC market has been stable for quite some time, trading at EUR 730, while Italy's HRC market, which continues to decline, is currently trading at EUR 645. According to SteelRadar data, Italy's HRC market, which declined by EUR 20 on April 1, fell by another EUR 10 on April 8 to stand at EUR 645.

However, the CRC market in Southern Europe remained steady, trading at EUR 813 in Spain and EUR 735 in Italy. Sources emphasized that trading remains extremely slow but producers are not looking for further price drops.