According to SteelRadar data, Spanish HRC prices, which have been hovering around EUR 730 since mid-March, dropped by EUR 70 to EUR 660 on 22 April. Sources said that the Israel war has affected all steel product prices in Europe, emphasising that prices were reduced to avoid excess stocks in the last stockpiles.
Italy's HRC market remained steady in the new week, following a significant decline in Spain. According to SteelRadar data, prices hovered at EUR 635 in the new week, down EUR 10 on 15 April.
The unfavourable conditions prevailing in the Southern European steel market were also felt in Northern Europe
The German HRC market, which has been hovering between EUR 665-655 since the beginning of April, dropped significantly by EUR 30 during the week to 22 April and traded at EUR 635. Sources expect further decreases in general steel products and some products will be difficult to recover in the short term.
Some producers tried to increase HRC prices but failed as buyers refused to accept higher prices, sources reported.
Sources informed SteelRadar that demand for steel is expected to recover with a growth rate of 5.3% in 2025.
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