In Spain, HRC prices increased by EUR 5 to EUR 575 in October. This increase is attributed to the recent general industrial recovery in Europe and increased demand, especially in the construction sector. However, other segments of the Spanish steel market were more subdued. Rebar prices were stable at EUR 565, while CRC prices remained unchanged at EUR 680.
In Italy, on the other hand, the scrap and rebar markets experienced more pronounced price decreases. Although E3 scrap prices remained stable at EUR 313, rebar prices started the week with a decrease of EUR 10 to EUR 560. This decrease is attributed to the slowdown in construction projects, especially in Italy, and a decrease in demand amid global economic uncertainties.
In the wire rod market, a EUR 15 decrease pushed prices slightly down to EUR 605. This indicates a slowdown in demand for wire rod, which is said to be driven by the increase in global steel supply. In particular, the significant decrease in steel plate prices (EUR 25) and the decrease in prices down to EUR 625 indicate that the market is under pressure.
In contrast, HRC prices increased by EUR 15, reaching EUR 550. This is attributed to a slight recovery in Italy's industrial production and steel demand in the automotive sector. However, the CRC market saw a decrease of EUR 12, bringing prices down to EUR 668. This is mainly explained by the slowdown in demand for high-quality steel products and the slowdown in the manufacturing sector.
In Spain, the steel market is relatively balanced, with a certain recovery in demand, while in Italy the stagnation in the construction sector is directly reflected in steel prices. In Spain, the increase in HRC prices in particular points to a demand-driven upturn, while the decreases in the CRC and wire rod markets in Italy stand out as the impact of broader economic uncertainty.
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