HRC prices in Northern Europe increased from €580 – €590/ton to €590 – €610/ton, in Germany from €570 – €580/ton to €590 – €600/ton, in Italy from €570 – €580/ton to €590 – €600/ton, and in Spain from €580 – €590/ton to €600 – €610/ton.
CRC prices also showed a significant rise. In Northern Europe, prices rose from €660 - €670/ton to €690 - €700/ton by the second week of February, in Germany from €660 - €680/ton to €680 - €700/ton, in Italy from €655 - €670/ton to €690 - €700/ton, and in Spain from €670 - €680/ton to €690 - €700/ton.
The largest increase in plate prices was observed in Italy and Spain, where prices rose from €640-€660/ton to €690-€710/ton. In Northern Europe and Germany, more moderate increases occurred, with Northern Europe prices rising from €670 - €680/ton to €675 – €680/ton, and in Germany from €660 - €680/ton to €670 – €680/ton.
Prices for rebar and wire rod also maintained an upward trend. Rebar prices were in the range of €615-€660/ton regionally, while wire rod prices were recorded at €600-€620/ton.
Rebar prices in Northern Europe increased from €620 - €630/ton to €640 - €660/ton, in Germany from €630 - €640/ton to €640 - €650/ton, in Italy from €610 - €630/ton to €615 - €640/ton, and in Spain from €610 - €630/ton to €630 - €640/ton.
Wire rod prices were set at €600 - €610/ton in Northern Europe and Germany, and €600 - €620/ton in Italy.
Demand Dynamics and Market Analysis
SteelRadar's market analysts noted indicated that the price increases stem from necessity rather than genuine demand growth, resulting from import restrictions and domestic production dynamics. Nonetheless, it is noted that many customers may find themselves needing to purchase at higher prices from domestic steel mills.
Supply and Demand Balance Will Determine Future Prices
Any potential increase in market consumption could push prices even higher. However, due to uncertainties regarding the real level and sustainability of demand, challenges facing the European steel market in the upcoming period include creating sufficient and sustainable demand, acceptance of high prices by end-users, and addressing supply-side issues.
European industry experts suggest that the current price increases are merely in the initial stages, and their continuation will depend on actual market consumption. They also emphasize the impact of rising scrap prices in these increases, noting that the future of price rises in the steel sector will be determined by real market dynamics and consumption levels.
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