In Europe, sources informed SteelRadar that although steel producers have lowered their prices to stimulate the market, buyers are not restocking due to oversupply and limited stocks. At the same time, spot prices across Europe have fallen and demand remains weak, while prices are expected to fall in the short term.
SteelRadar reported earlier that the European safeguard measures are expected to be extended for another two years until mid-2026, and buyers are cautious as they are not sure if the changes in quotas under the safeguard measures are included.
Germany
It was reported that German steel mills were quoting prices in the range of €700-735 ex-Ruhr for April-May shipment, underlining rumors that these prices were for HRC [EN 10025].
The downtrend across Europe has continued for many steel products in Germany, with HRC starting the week of February 26 most notably down by €15 to €735. According to SteelRadar data, the price differential with CRC [EN 10130] remained the same, trading €8 lower at €820.
The other notable change in Germany was €5 for [12-32mm] rebar, which opened the week of February 26 at €653 and remained stable throughout the week.
Benelux
SteelRadar has not recorded a significant change in prices for HMS 1/2 80:20 across Benelux for a while, but as of the week of February 26, prices were down by €8 to €330, which has not been seen for a long time.
Forecasting that the downward trend will continue throughout the coming week, sources agreed that prices are likely to remain steady or drop significantly, while no increase is expected.
Italy
HRC prices in Italy were reported at €710/mt EXW. SteelRadar sources reported that buyers are not particularly optimistic about seaborne cargoes due to longer delivery times and geopolitical conditions.
According to SteelRadar data, the most notable price decreases in Italy in the week to February 26 were recorded for [14-40mm] steel plate, down €25, and [EN 10025] HRC, down €20. Steel plate, which was traded at €775 last week, was set at €750 on February 26. HRC closed the week at the same level, dropping to €710.
SteelRadar assessed [A510] wire rod as the product that increased by €13 in Italy during the week ended February 26, with a current price of €683.
Poland
Rebar prices in Poland started the week of February 26 with a decrease compared to the previous weeks. According to SteelRadar data, rebar prices have been stable at €665 since the beginning of February, but started trading at €643 as of the week of February 19 and remained stable in the week to February 26.
Sources expect demand in Poland's construction sector to increase in the coming quarter and the situation to improve as weather conditions improve.
Spain
In Spain, SteelRadar recorded the highest changes for [EN 10130] CRC, up €35 to €835 during the week to February 26. Prices across Spain, which have not shown significant changes for some time, were also down by €30 for [EN 10025] HRC, which traded at €760.
Rebar [12-32mm] was also up slightly by €5 to €605 in Spain.
Netherlands
HMS 1/2 80:20 has been stable since the start of February, with no notable changes, and SteelRadar calculated it at $382 for the week ending February 26. In the Netherlands, HMS 1/2 80:20 was recorded at $379, following a downtrend throughout the week, according to the data.
SteelRadar assessed the current price for HMS 1/2 80:20 at $366 on February 29, down by $13. The sources told SteelRadar that these decreases were already expected to increase in the scrap market, and they agreed that they would be sustained.
United Kingdom
UK wire mesh prices, which have been volatile throughout February, started the week of February 26 at $605.50, down $4.5, but SteelRadar recorded a $1.5 rebound to $607 on February 27.
However, UK wire mesh prices continued their downward trend throughout the week, bringing the current price back to $605.50, which was the price at the start of the week.
Comments
No comment yet.