SteelRadar data indicated that E3 scrap prices in Italy started the week of March 18 with a decrease of €10 and started trading at €360, down by around €2.78. The Italian Steel Trade Association Assofermet expressed that there is a serious decrease in demand and a significant uncertainty in the scrap market, while in Benelux, another country in Europe that has experienced a significant decline in the scrap market, the price of HMS 1/2 (80:20) fell by €8 at the beginning of the week and traded at €295.
Another steel product with a noticeable price drop in Europe was rebar. In Italy, rebar started the week of March 18 with a €5 drop and traded at €590, while the situation was no different in Northern Europe's Poland, where rebar prices started the week with an €8 drop to €635.
High production costs, as well as hopes of securing new orders, have forced downward price changes, sources informed SteelRadar. 14-40 mm [EN 10025 (S235JR)] steel plate was reported to have dropped by €10 to €745 in Italy. In the steel plate market, the situation was no exception in Northern Europe, where prices for [EN 10025 (S235JR)] grade were also down by €7 in Germany, trading at €803.
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