According to SteelRadar's analysis, the German steel plate [EN 10025 (S235JR)] market, which fell by EUR 10 to trade at EUR 793 in the week to April 8th, experienced another significant drop of EUR 23 to EUR 770 in the week of 15th April.
Sources reported that product prices were also affected as steel mills in the region cut production, while wire rod, another steel product in neighboring Poland, remained stable. Wire rod, which was last traded down by EUR 3 to EUR 668 in early April, is currently trading at the same price.
For rebar [12-32mm], prices have been decreasing at regular periods since the start of 2024, while rebar prices, which were last traded at EUR 638 with a slight decrease of EUR 2, are expected to start next week with increases in other European countries, especially in Germany, after ArcelorMittal's announced EUR 20 long product price increase.
Steel market in Italy remains volatile this week
Prices of galvanized steel coil in Italy, which last dropped by EUR 35 to EUR 866 in early April, are currently trading at the same price. The general steel market has been quiet at the beginning of this week, with prices of angle, steel plate and wire rod remaining stable.
Having last traded down by EUR 2 to EUR 628 during the week of April 8th, the wire rod market remained stable during the week of April 15th, trading at the same price. Italy's angle prices, which have been trading at the same price for a long time, decreased by EUR 10 to EUR 725 last week and have been trading at the same price this week. The Italian steel plate market was similarly stagnant, with prices hovering around EUR 715.
Several mills in Italy are reportedly considering raising prices to improve their margins after ArcelorMittal raised its offer for all commercial long products in Europe by EUR 20 per ton and the new prices are expected to be effective for all new orders.
Even in Italy, rebar, wire rod and commercial bar suppliers raised their prices by EUR 20/tonne, but falling demand for long products has caused buyers to be sceptical about further price hikes in the future.
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