Germany
Rebar prices in Germany, which last fell sharply to EUR625 on 22 April, were reported to have been traded at the same prices in the week to 13 May. Sources said that there is no sign of a revival in prices, but no further deterioration is likely.
According to SteelRadar data, German HRC prices, which rose by EUR 10 to EUR 635 in the week to 6 May, experienced a significant increase of EUR 25 in the new week and prices rose to EUR 660. German sources said that buyers are anticipating production cuts and demand has been insufficient due to this reason. It was stated that prices rose in direct proportion to the rise in costs. In addition to rising HRC prices in Germany, German CRC prices, which have been trading at a stable price of EUR 735 for a long time, started the week of 13 May with an increase of EUR 20 and prices were calculated as EUR 755.
According to SteelRadar data, E40 grade scrap continues to stabilise at EUR368 in Germany. Jens Björkman, chairman of Sena Metal's raw material suppliers committee, said that scrap production in the EU has fallen by 15-20% depending on the region due to slow economic conditions, but the market could improve if interest rate cuts are implemented.
German steelmakers say they have lowered their 2024 forecast for the steel market as signs of recovery are weaker than initially expected.
Poland
According to SteelRadar data, the Polish rebar market, which last fell by EUR 10 to EUR 615 on 29 April, traded at the same price in the week to 13 May. Sources said that rebar prices have not increased in the face of low demand.
Wire rod [5.5-10mm] prices, which have been stable in Poland for a long time, dropped by EUR 5 to EUR 670 in the week of 13 May. Wire rod, which has been traded at the same price for a long time, sources said that mills are looking to increase prices.
Spain
According to SteelRadar data, the Spanish rebar market, which gained a significant momentum by EUR22 last week, remained steady at EUR605 in the week to 13 May. EU producers are expected to increase by €50 in the near future and then fall again, as has been the case in the market for the past two years.
According to SteelRadar data, Spanish HRC prices, which fell by EUR 5 to EUR 655 in the week to 6 May, started the week to 13 May with an increase of EUR 20 and prices were updated at EUR 675. Sources said that buying has increased, but buyers are questioning the sustainability of the uptrend with insufficient support from industries.
Italy
According to SteelRadar data, Italy CRC prices started the new week with an increase of EUR 20, compared to Spain CRC prices, which remained steady at EUR 805. Italy's CRC prices, which have been trading at EUR 735 for some time, gained EUR 20 to EUR 755 on 13 May after a long time. Italian sources reported that there has been some improvement in demand but the actual activity level is still weak. According to the data, Italian HRC prices, which rose by EUR 10 to EUR 635 on 6 May, gained another EUR 25 to EUR 660 on 13 May. Galvanised steel coil [0.5mm] prices, which have been trading at EUR866 for a long time, gained EUR8 momentum to EUR874 in the week of May 13.
After hovering around EUR 360 in late April and early May, E3 scrap prices in Italy fell to EUR 353 last week. In the week of 13 May, Italian E3 scrap prices continued to trade at the same price.
Italian rebar [12-32 mm] prices were seen trading at EUR625 on 13 May, following a EUR10 drop on 29 April. At the same time, most sources are sceptical about the possibility of a significant price recovery, as real demand remains rather limited.
According to SteelRadar data, ASTM A510 (SAE1008) wire rod prices, which had been hovering at EUR 645 for a while, dropped by EUR 5 to EUR 640 on 6 May. In the week of 13 May, Italian wire rod prices, which were observed to be traded at the same price, were calculated at EUR 640. Sources said that the hikes in the past few weeks were not expected to be permanent, but demand for imported wire rod has increased in response to the exhaustion of import quotas.
Netherlands
According to SteelRadar data, Dutch HMS 1/2 (80:20) scrap prices, which rose by 2 USD to 354 USD on 2 April, hovered between 352-354 USD last week. Starting the week of 13 May with a decrease of 2 USD, Dutch scrap prices fell back to 352 USD. Sources said that expectations were negative.
Benelux
Benelux HMS 1/2 (80:20) scrap started the week with a decrease of EUR 5. According to SteelRadar data, the scrap, which gained momentum by EUR 5 to EUR 318 on 6 May, fell by EUR 5 on 13 May and resumed trading at EUR 313. Benelux sources emphasised that there were no significant sales requests, while price pressure continued.
United Kingdom
According to SteelRadar data, UK steel mesh prices, which followed a fluctuating course especially in April and May, fell again to USD 584 on 7 May. After trading at the same price for a few days, the product dropped by around USD 2 to USD 582.50 on 10 May. Steel mesh, which experienced the last change on 13 May, gained 2.5 USD.
It is currently trading at 585 USD.
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