According to SteelRadar data, HRC and CRC prices in Germany remained stable over the past week. HRC prices continued to trade at EUR 635, while CRC prices continued to find buyers at EUR 735. In contrast, steel plate [EN 10025 (S235JR)] prices fell by EUR 10 to EUR 745 in Germany. "The market is slow," a trader in Germany said. "Everyone thinks that prices have bottomed out but demand is still weak. The construction and automotive sectors are not doing well." A representative of a steel service centre in Germany said that European mills are struggling for orders.
In Italy, HRC prices fell by EUR 10 to EUR 625, while CRC prices were stable at EUR 750. Hot rolled coil for August delivery was offered at EUR 640-650 per tonne (EUR 630-640 EXW) and some of the July delivery volumes were still available, a local mill said. Italian steel plate [EN 10025 (S235JR)] prices were down EUR 20 to EUR 670 per tonne.
In Spain, HRC and CRC markets remained stable in the new week. HRC prices continued to trade around EUR 645, while CRC prices were stable at EUR 800. The foreign coil market was quiet, with most buyers postponing their purchases due to increased risks related to the new EU import measures or uncompetitive prices for imported hot rolled coil.
The sluggish European steel market, coupled with weak demand, especially in the construction and automotive sectors, could lead to a challenging summer for producers and suppliers. Although prices remain stable, it is clear that demand needs to increase to revitalise the market.
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