Germany
According to SteelRadar data, rebar prices in Germany continued to trade at the same price in the week to April 29 after dropping by EUR 13 last week. The decrease was driven by weak demand in the construction sector, while strong competition from imports also affected prices, sources said.
According to SteelRadar data, Germany's HRC market started the week of April 29 with a further drop of EUR 10 to EUR 625, after a significant drop of EUR30 to EUR635 in the week to April 22. CRC prices, on the other hand, were observed to remain stable and traded at EUR 735. Producers are expected to increase their offers soon, sources said.
The steel plate [EN 10025 (S235JR)] market in Germany, which has witnessed significant decreases throughout April, last witnessed a drop of EUR 23 during the week of April 15, with steel plate [EN 10025 (S235JR)] trading at EUR 770. In the week of April 29, steel plate continued to trade at the same prices, sources said, adding that the downward trend in raw material prices and weak purchases affected prices in the short term.
Poland
According to SteelRadar data, Polish rebar prices remained stable for a while, trading at EUR625/EXW, after a recent drop of EUR 3. However, on April 29, the Polish rebar market was down by EUR 10 to EUR 615/EXW. Sources said that demand has been sluggish and producers, unsure of the unstable rebar market, have started to cut production to bring balance to the market.
Wire rod [5.5-10mm] prices in Poland, which have been stable for a long time, rose by EUR 7 to EUR 675 last week. In the week of April 29, the wire rod market continued to trade at the same price, sources said, adding that they expect activity in the North European wire rod market.
Spain
According to SteelRadar data, the Spanish rebar market, which experienced a significant decline of EUR 22 last week, maintained its steady course in the week to April 29, trading at EUR 583.
The Spanish steel market, which had a quiet week after a volatile period, saw no change in HRC prices, while CRC prices were unchanged. According to SteelRadar data, Spanish HRC prices remained stable, trading at the same price as of April 29, following a drop of EUR 70 on April 22. However, Spanish CRC prices, which have been trading at EUR 813 since March, dropped by EUR 8 to EUR 805 on April 29.
According to Axel Eggert, Director General of the European Steel Association (EUROFER), the European steel market has lost momentum due to increased economic uncertainty, inflation and interest rates, and demand expectations have been directly affected.
Italy
According to SteelRadar data, prices in the Italian HRC market have been trading at EUR635 for some time, following a EUR10 drop in the week of April 15, before falling by another EUR 10 to EUR 625 as of April 29. However, Italian CRC prices were observed to remain stable at EUR 735.
In Southern Europe, local producers' efforts to raise rebar prices have been successful, sources confirmed. In Italy, rebar [12-32 mm] prices remained steady at EUR570 throughout April, but gained momentum by EUR20 on April 29 to reach EUR590.
According to SteelRadar data, Italian E3 scrap prices, which hovered at EUR 352 last week, accelerated by EUR 8 to EUR 360 in the week to April 29.
Galvanized steel coil [0.5mm] prices, which fell by EUR 35 in early April, have been trading at the same level of EUR 866 for several weeks.
ASTM A510 (SAE1008) wire rod prices, which rose by EUR 17 to EUR 645 last week, remained stable in the week to April 29.
The sluggish market conditions prevailing in Spain also affected Italy. 14-40 mm [EN 10025 (S235JR)] steel plate prices remained stable at EUR 715, while 6-9mm [EN 1002 (S235JR)] angle prices remained unchanged at EUR 725.
Netherlands
According to SteelRadar data, HMS 1/2 (80:20) prices in the Netherlands have traded at a stable price level for a couple of weeks at USD 353, after having dropped by USD 6 during the week of April 8. However, it was noted that prices rebounded and started to increase in the week of April 22.
Currently, 1/2 80:20 prices are trading at USD 356.
Benelux
According to SteelRadar data, HMS 1/2 (80:20) prices in Benelux have seen an increase. According to SteelRadar data, scrap prices traded at EUR 308, down by EUR 5 in the week to April 22, before gaining EUR 5 to EUR 313 in the week to April 29.
United Kingdom
According to SteelRadar data, UK steel mesh prices, which hovered at EUR 579 on April 9, started to rise on April 22 and gained momentum on April 23 to trade at EUR 581. In the week of April 29, prices were seen to have changed their course, falling to USD 579.5.
Currently, wire mesh prices in United Kingdom are up on May 1st as 583,50 USD and trading at the same level.
Sources emphasized that developments such as the end of inflation may support demand for steel, while the UK steel market has been affected by high inflation and monetary tightening.
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