HRC and CRC prices are down in Europe!

According to SteelRadar data, HRC prices in Spain remained stable as of 29 April, trading at the same price, following a drop of EUR 70 on 22th April. However, Spanish CRC prices, which have been trading at EUR 813 since March, dropped by EUR 8 to EUR 805 on 29 April. According to Axel Eggert, Director General of the European Steel Association (EUROFER), the European steel market has lost momentum due to increased economic uncertainty and challenging conditions such as inflation and interest rates, which have also affected demand expectations.

Following the observed decreases in Spain, the situation is no different in Italy, which is located in Southern Europe. According to SteelRadar data, prices, which have been trading at EUR635 for some time following a EUR10 drop in the week ending 15 April, were down by another EUR10 to EUR625 as of 29 April. However, it was observed that Italian CRC prices maintained their stable course and continued to be traded at EUR 735. Ascometal, one of the most important companies for the Southern European steel market, declared bankruptcy in March and its units were placed under receivership. This company, located in Southern Europe, is also thought to affect the steel markets and prices of the region.

The German HRC market is experiencing consecutive decreases

According to SteelRadar data, the German HRC market, which dropped by a significant 30 EUR to 635 EUR in the week of 22 April, started the week of 29 April with a further 10 EUR decrease and prices were calculated as 625 EUR. CRC prices, on the other hand, were observed to remain stable and traded at EUR 735. Producers are expected to increase their offers soon, sources said.

Axel Eegger, Director General of the European Steel Association (EUROFER): "For a successful transition in Europe, we need a robust business case in Europe for a successful transition, with a set of enabling conditions under the umbrella of an effective EU industrial policy ranging from competitive clean energy, robust trade measures ensuring an international level playing field, to funding support and lead markets for green products” he stated.