Germany
The rebar market in Germany has been stagnant as of September 9, 2024. Prices are stable at EUR 620, largely due to low demand and limited trade flows. Moreover, high energy costs are also causing producers to review their production plans.
E40 scrap prices in Germany remained stable at EUR 380. Despite expectations for an upturn in the scrap market, general uncertainty and risks in global markets are keeping prices under pressure.
HRC prices in Germany decreased by EUR 20 to EUR 595 in the second week of September. CRC prices remained stable around EUR 725. However, weaker demand, especially from the automotive and construction sectors, and oversupply in the market continue to weigh on prices.
In the German steel plate market, prices decreased by EUR 23 to EUR 700/ton from EUR 723/ton at the beginning of the month. The decrease was felt particularly sharply in the 14-40 steel plate segment, where prices decreased by EUR 55 from EUR 600 to EUR 545. Slow business activity across Europe and the lack of the expected post-holiday recovery, especially in Germany, were cited as the main reasons for the price decreases.
Poland
The situation is similar in Poland. Rebar prices are stable at EUR 625, while wire rod prices are also stable. This stability is influenced by weak demand as well as the slowdown in global trade. In Poland, the imbalance between domestic market dynamics and foreign demand is also preventing prices from moving.
Italy
HRC prices in Italy decreased by EUR 25 to EUR 585 in the new week. The cold rolled sheet market remained stable at EUR 740. Import prices also showed a slight decrease while offers from abroad have not yet attracted the expected interest. HRC offers from India at USD 600 per tonne CFR and Türkiye at EUR 560 per tonne CFR were the talk of the Italian market, while the European Union's anti-dumping duties and safeguard measures on certain origins continue to limit imports.
The 14-40 steel plate market in Italy traded at EUR 660 in the past weeks, but decreased by EUR 15 to EUR 675 in the new week. With limited trading activity in both Northern and Southern Europe, the overall market remained subdued.
In Italy, E3 scrap prices remained stable at EUR 328. However, there are expectations for an increase in scrap trade in Italy, especially with large buyers such as Türkiye. This increases the possibility of an upward movement in prices in the upcoming period.
Spain
In Spain, HRC prices are stable at EUR 630, while CRC prices are trading at EUR 750. Overall, however, there is no sign of a recovery in demand in European markets, which increases expectations for further price decreases in the steel sector.
Netherlands
The scrap market in the Netherlands remained stable at 344 USD. This indicates that global trade conditions and demand for raw materials have remained stable. Scrap supply in the country is driven by the recycling of waste metals, especially from the automotive and construction sectors. Environmental regulations and recycling obligations in Europe support scrap demand in the long term, but fluctuations are expected in the short term.
Benelux
The Benelux region is showing remarkable activity in the scrap market. The EUR 8 increase in scrap prices to EUR 288 is attributed to the growing demand in the region and the difficulties producers are facing in sourcing raw materials. In particular, steel producers in Belgium and the Netherlands are pursuing a more proactive scrap import strategy. This increase in prices contrasts with the stagnation in other European markets and reinforces the role of the Benelux in the wider European steel industry. Furthermore, environmental sustainability policies and the circular economy in the Benelux are among the factors encouraging scrap recycling.
United Kingdom
Wire mesh prices in the UK increased by USD 2.5 to USD 575.50 in the new week. This increase is seen as a reflection of the recovery in the UK's construction sector. Increasing housing projects and infrastructure investments across the country have boosted demand for construction materials such as wire mesh. In the post-Brexit period, the UK has strengthened its policies towards local producers, while taxation and quotas on imported steel products have an impact on prices. In the coming period, both developments in the construction sector and global steel prices stand out as the key factors that will shape wire mesh prices in the UK.
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