In Germany, HRC prices are between €620 and €630/ton ex-works (EXW), while in Italy the price of this product is around €610-620/ton. CRC prices are quite close to each other in both countries, trading between €710-730/ton in Germany and €710-720/ton in Italy. Hot rolled plate (HRP) prices are in the €690-700/ton range in Germany, while they are significantly lower in Italy, around €640-650/ton. Although some price noises were heard in Northern Europe (€670-700/ton), there was no real movement. Buyers are only buying what they need and not going for more.
European steel buyers are increasingly turning to Asian and Indonesian suppliers to fill supply gaps. In this context, HRC originating from Turkey is being offered to Italy at around €550-560/ton CFR, while Indonesian and Malaysian products are finding buyers at slightly lower levels, around €515-525/ton CFR. HRC offers from India are hovering between €560-570/ton CFR in the Italian market. These prices are a more competitive alternative to local prices in the European domestic market, which range between €610-645/ton ex-works.
Rebar prices in Poland remain at the same level, around €615-630/ton CPT. Wire rod prices are around €645-665/ton CPT. However, European sources reported that import wire rod offers have dropped as low as €640/ton ex-works. Rebar prices in Germany, on the other hand, remain stable. A price range of €680-695/ton ex-works is reported. This price level can be maintained thanks to limited domestic supplies. The market source noted that while Riva Group is reducing production, other mills are quietly taking advantage of this price range and selling products at high profit margins.
On the other hand, on the profile side, especially IPE and HEA products remain relatively strong. However, with the latest updates, IPN/IPE prices have decreased to €760-770/ton and HEA/HEB profiles to €760-775/ton, a decrease of around €10/ton in both product groups. These products are among the rare segments that are still in demand in the market.
Increasing import pressure from Asia to Europe is having a downward impact on prices and weakening the competitiveness of local producers. At the same time, the implementation details of the Carbon Border Adjustment Mechanism (CBAM) are still unclear, increasing uncertainty and interrupting investment and purchasing decisions.
Another noteworthy issue in the markets is the overstocking and lack of real demand. Despite the large number of offers, buyers are avoiding large volume purchases due to insecurity. Purchases are generally kept at the minimum requirement level; instead of stockpiling, a wait-and-see strategy is preferred.
While some producers' attempts to raise prices in the flat product group - especially in coil products - achieved limited success, a slight downward trend is noticeable in the long product group. There is a serious weakening in wire rod sales, especially in the construction and automotive sectors.
The overall outlook suggests that the industry is going through a difficult period and that efforts to artificially drive prices up have not found a response in the market. The industry is focused on the demand revival that has been expected for some time but has not materialized yet.
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