This week, wire rod, one of the most in-demand commodities across Northern Europe, continued to hike in price. The upcoming Christmas holidays and limited production by mills due to rising costs are expected to prevent prices from rising further before the end of the year. According to SteelRadar's assessment, an increase of around €10-20/ton is expected for wire rod. Local transaction prices for wire rod in drawn grade are around €640/t, €650/t for web grade and €660/t for wire mesh grade, while offers from outside the EU are around €580-590/t CFR (Rotterdam).
The index for hot rolled coil increased to €686.50 per tonne for North Europe ex-Northern Europe, while offers for coil for February delivery ranged between €700-720 per tonne. The daily hot rolled coil index was assessed to have increased by €7.29 on a weekly basis and €42.29 on a monthly basis, while offers received from local suppliers for HRC for February delivery were reported at €720 per ton.
Italy
Prices in the wire rod market increased by €30/t as a result of the high cost of raw materials and higher production costs. This increase reached €650/t for products to be delivered for drawn quality wire rod processing. Domestic heavy steel plate prices for Italian mill deliveries increased by €15/mt on the week to €750/mt. According to SteelRadar, steel plate prices from Italy are trading between €730-750/mt. Slab product prices from Asia are around $630-640/mt CIF, while slab imports to southern Europe are tracking around $635/mt CIF for the past week and slab is stable in Italy.
Germany
In Germany, contract supplies are at the leading position, with Grade 3 thick scrap priced at €320/t and 80:20 scrap hovering between €325-330/t. E40 shredded scrap is at €330/t, according to SteelRadar's assessment. Steel producers have raised steel plate prices due to contract priority. Domestic steel plate prices are assessed at €30/mt higher on a weekly basis, equivalent to €830/mt ex-works Ruhr. Offers for Germany delivery are trading at €840-850/mt.
Benelux
The international scrap market remains on strong path. Benelux scrap was sold to Türkiye at higher prices this week. Following the upward trend abroad, local prices also increased. SteeRadar's daily price assessment for HMS 1&2 (80:20) was set at $392/t FOB Rotterdam.
United Kingdom
UK steel mesh prices have changed this week. There was a decrease in prices.
Steel mesh price, which was announced as 608.00 USD last week, was announced as 604.50 USD this week, according to the new week's data. It is remarkable that prices have dropped by 3.5 USD since last week. It is being followed how prices will change in the coming days.
Poland
Prices of rebar in Poland remained virtually flat on the trading market this week as well. Demand in Poland was moderate this week and there were no significant new deals. Polish rebar prices are expected to remain stable until the end of the year with no significant price increases or decreases expected. SteeRadar's daily price assessment for Polish rebar (12-32) is set at 620EUR/t CPT.
The wire rod sector, on the other hand, has witnessed gains this week, with prices recovering from the lows seen a week ago. Despite the upward movement, business activity in the Polish wire rod sector remains subdued. Demand is said to be weak locally, so the only reasons for the price increase are still high costs and the general bullish sentiment in the steel markets. Prices in Poland rose to 715EUR/t CPT this week.
Spain
Local rebar prices in Spain were slightly higher this week, following the increase recorded at the beginning of the month. In Spain, prices for θ12-32 mm were set at EUR 580/t EXW this week.
HRC and CRC prices in Spain also increased this week. HRC prices started the week of December 8 at 695 EUR/t, up from 675 EUR/t last week. CRC prices, which were at 680 EUR/t last week, increased to 790 EUR/t this week.
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