Northern Europe, HRC prices around €620-630/mt, with some deals reported to have been concluded at these levels. Plants in the region have largely completed their April sales and are offering €650-660/mt for May deliveries.
Southern Europe, however, HRC prices in Italy were reportedly offered at €605-615/mt, with Italian suppliers offering €620-640/mt for April deliveries, while some recent deals were reportedly concluded around €610/mt.
In the heavy plate market, offers in Northwest Europe are around €690/mt on a price basis, while in Italy the price is around €650-655/mt. This difference indicates that Italian producers are following a more competitive pricing strategy in the market.
Prices in the pipe and profile market remain stable. Seamless carbon steel pipes are priced at €1200/mt, while prices for welded pipes are around €650/mt. Hollow sections are offered at €700/mt. Producers have indicated that prices could be reduced further under existing agreements.
Rebar prices in the market remained stable despite demand due to energy costs, but producers were forced to cut prices despite high costs as the market rejected the high prices. European markets are struggling to cope with both high costs and low demand, sources stated, adding that the rebar market in Northern Europe - Germany remained stable due to weak demand, with prices offered in the range of €630-650/mt. In Southern Europe - Italy, on the other hand, this figure is hovering around €615-620/mt. Wire rod prices across Europe are reported to be between €590-605/mt. Producers are reportedly asking for a price increase due to costs, but a price increase based on demand will be difficult.
The future of prices will be shaped by the revision of steel protection measures. It is emphasized that this agenda will determine the pricing decisions of local producers. However, many market sources indicated that higher offers are expected in the coming weeks. Although actual demand is weak, supply factors are considered to be the main reason behind the price increases. Especially the review of safeguard measures in Europe is believed to have played an important role in these increases. In conclusion, rising price expectations and uncertainties around safeguard measures will continue to shape the European steel market.
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