According to SteelRadar data, HRC prices in Germany remained stable at EUR 635 on a weekly basis. Sources in Germany said that the spot market in Europe is sluggish and buyers and mills are cautious ahead of the summer holidays. The automotive industry in particular is hoping to roll over prices while negotiating long-term contracts for H2 2024.
In Germany, CRC prices remained stable at EUR 735. While this can be considered as an indicator of stability in the market, uncertainties about the price movements in the coming period remain.
The situation is slightly different in Southern Europe. In Spain, HRC prices were stable at EUR 645, while CRC prices dropped by EUR 10 to EUR 790. Suppliers in Southern Europe are expecting higher HRC prices for September deliveries.
In Italy, HRC prices were stable at EUR625 and CRC prices at EUR750. Buyer sources in Italy noted that the possibility of taxes on HRC volumes purchased under quota has increased and there are still uncertainties regarding customs clearance.
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