Italy
Rebar prices in Italy have been stable on a weekly basis this month, after rebounding this month following October's lows. Local steel facilities have kept their offers for November higher at 300-310 euros/t ex-mill and 400 euros/t for locally produced wire mesh. Rebar prices are expected to increase to EUR 320/t in the upcoming days. Distributors expect major infrastructure projects to start in 2024, while the market is expected to remain uncertain.
Italy's steel imports from tertiary countries (third countries) declined by 7.6%, while exports of steel products increased by 5.5%. Imports of rolled products decreased by 9.4%, while rebar imports increased by 162.5%.
On the other hand, rising steel demand in Europe pushed up coil prices in Italy. According to SteelRadar's source, European steelmakers are preparing to set their delivery prices at 700 euros per ton, despite the weak market. The stainless steel trade, on the other hand, is suffering from economic uncertainty and low demand.
In Italy, small and medium volume slab prices have increased, while large volume slab prices have remained stable due to lack of demand. Slab prices in Italy are affected by higher prices from Chinese slab suppliers. Import slab prices are also on the rise.
Poland
Rebar and wire rod prices in Poland did not change significantly on the Polish trading market last week. Producers were unable to achieve the desired differentials due to high production costs. Offers were around 2,780 zloty per tonne for rebar continued to be offered and were seen above this level within the market. Rebar prices at the local level are around 2,730 zloty to 2,750 per tonne.
In the wire rod sector, Polish producers submitted offers in the range of 2,900-3,100 zloty per ton. Offers for imported material from European producers were around €625-630 per tonne, while offers for imported web-grade material from Ukraine hovered at €605 per tonne.
Steel production increased by 5.9% on a monthly basis to 577 thousand tons in October 2023. However, there was a year-on-year decrease of 5.9%. Recently, steel production in Poland has decreased by 17.5% compared to 2022.
Germany
The upward price trend in European hot rolled coil prices has continued despite lower demand and stocks. Restocking activity in the region has improved, sources told SteelRadar. SteelRadar assessed the price of EN 10025 (S235JR) quality HRC at EUR 670.00 on November 30, 2023.
Rebar prices in Germany have remained stable over the past two weeks. However, the market expects an increase due to high production costs. Weldable rebar prices for 12 mm, BST 500S grade are at EUR 610-630/t (EUR 345-365/t delivered, basis) and have remained stable for two weeks.
Benelux
The ferrous scrap market remained stable in the trading activity. Local scrap prices approached last week's highs. SteelRadar's daily price assessments for HMS 1&2 (80:20) were set at $361/t FOB Rotterdam, up $6/t from last week.
Spain
Spanish rebar prices were basically unchanged in November, but the negative trend persists. Local rebar prices in Spain were stable at the end of November after an increase at the beginning of the month. Export prices were also stable due to poor demand. In Spain, prices for θ12-32 mm were set at 565 EUR/t EXW this week, remaining unchanged since early November.
HRC and CRC prices in Spain remained flat this week. HRC and CRC prices are at €675 and €680, correspondingly.
England
Wire mesh prices increased in the UK on November 29, 2023. According to the data, wire mesh prices on November 29, 2023 are trading at USD 573.00.
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