European HRC and CRC prices increased

According to SteelRadar data, Germany's HRC prices, which rose by EUR 10 to EUR 635 in the week of 6 May, have increased by EUR 25 in the new week, reaching as high as EUR 660. German sources said that buyers are anticipating production cuts and demand has been insufficient due to this reason. It was stated that prices rose in direct proportion to the rise in costs. In addition to rising HRC prices in Germany, German CRC prices, which have been trading at a stable price of EUR 735 for a long time, started the week of 13 May with an increase of EUR 20 and prices were calculated as EUR 755.

Southern Europe's HRC and CRC markets were also among the bullish regions this week. According to SteelRadar data, Spanish HRC prices, which fell by EUR 5 to EUR 655 in the week to 6 May, started the week of 13 May with an increase of EUR 20 and prices were updated at EUR 675. Buying has increased but buyers are questioning the sustainability of the uptrend with insufficient support from industries, sources said. According to SteelRadar data, Italian CRC prices started the new week with an increase of EUR 20, compared to Spanish CRC prices, which remained steady at EUR 805. Italy's CRC prices, which have been trading at EUR 735 for a while, gained EUR 20 after a long time on 13 May, reaching EUR 755. Italian sources reported that there has been some improvement in demand but the actual activity level is still weak. According to the data, Italy's HRC prices, which rose by EUR 10 to EUR 635 on 6 May, rose by another EUR 25 to EUR 660 on 13 May.