Germany
Hot rolled coil (HRC) prices in Germany fell by EUR 10 to EUR 650 during the week to 20 May. However, cold rolled coil (CRC) prices remained stable at EUR 755 in Germany. It is reported that trade in European Union countries has almost come to a standstill due to public holidays. According to information obtained by SteelRadar, steel producers in Northern Europe are trying to keep spot prices high ahead of negotiations with the automotive industry in the second half of 2024.
German rebar prices, which fell by EUR 13 to EUR 625 on 22 April, continued to trade at a stable price during the week of 20 May. Sources said that no significant progress is expected for Germany's construction sector this year, emphasising that residential construction projects are increasingly
being put on hold. It is said that the stagnation of Germany's construction sector is not only due to increased demand, but also due to a decrease in approvals for construction projects.
In April, German E40 scrap prices, which were calculated at EUR 368, have been trading at the same price for a long time. Compared to the stable scrap prices, German iron ore prices gained momentum in the week of 20 May. Iron ore prices, which had fallen to EUR 107 last week, have recovered this week.
Poland
Polish rebar prices, which last fell by EUR10 to EUR6115 on 29 April, rose by EUR10 to EUR625 in the week to 20 May, according to SteelRadar data. Sources said that producers have realised high sales from last month's low prices and are likely to keep prices high during this period. At the same time, rebar prices have also been affected by the increasing demand in the construction sector.
Compared to the higher rebar prices, wire rod [5.5-10mm] prices remained stable at EUR 670.
Spain
In Spain, HRC prices held steady at EUR 675, while CRC prices remained stable at EUR 805. This pause in trade comes at a time when European steel producers are taking a strategic stance. Especially ahead of future negotiations with the automotive sector, the producers' efforts to keep spot prices high are noteworthy. This strategy has kept prices relatively stable despite low demand.
The steel sector for Spain continues to be sluggish this week. Rebar [12-32 mm] prices also remained unchanged this week. Rebar prices continued to trade at 605 EUR in the new week.
Italy
Offers for hot rolled coil for July delivery have been announced in Italy, but tonnages may still be available for late June, according to some buyer sources. Trading in Italy was quiet at the beginning of the week with no major deals. During this period, HRC prices in Italy fell by EUR 10 to EUR 650, while cold rolled coil (CRC) prices were stable at EUR 755.
Steel plate 14-40 mm [EN 10025 (S235JR)] prices in Italy increased significantly by EUR 50 to EUR 750. According to Assofermet, the Italian association of scrap, raw materials and steel distributors, although there was some slowdown in sales in Italy and Central Europe during the holiday periods, some sectors increased their purchases of products such as sheet and strip to meet their needs for the coming months. Plate demand has strengthened, sources said.
According to SteelRadar data, E3 scrap prices reached EUR 365, up by EUR 12. Rebar prices also rose by EUR 10 to EUR 600 during the same period. Assofermet noted that price hikes by producers in the EU and abroad, quotas and the impact of safeguards such as the Carbon Border Adjustment Mechanism (CBAM) have forced distributors and raw material companies to change their plans and increase their selling prices.
Netherlands
HMS 1/ 2 (80:20) prices in the Netherlands, which were traded at USD 351 on 13 May, increased slightly to USD 352 during the week. Scrap prices, which entered the week of 20 May at USD 351, rose to USD 353 during the week.
Dutch scrap prices are currently trading at 353 USD.
Benelux
Benelux HMS 1/ 2 (80:20) scrap prices fell to EUR 313 last week. In the week of 20 May, prices continued to be traded at 313 EUR and remained stable.
UK
According to SteelRadar data, steel mesh prices in the UK experienced a decline. Prices fell by EUR 1.5 to EUR 582.50 in the week to 20 May. This decline is recognised as an indication of the economic recession across Europe and the slowdown in the construction sector.
HMS 1/2 80:20 scrap prices fluctuate depending on sales and demand and are trading in the range of EUR 240-250 to fulfil local contracts. This price range reflects the volatile nature of the market and the uncertainty of demand. In particular, the
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