Throughout Europe, steel products were observed to decline with the week of March 18, while the reasons for this decline were reasons such as slowing steel demand and high production costs.
Italy
In southern Europe, the HRC market began stagnating to the week of March 18; in Italy HRC [EN 10025 (S235JR)] was calculated as 15 March 8€ drops per ton from 683€ to 18 March, 675€ on Monday, with a decrease in Italy. In the end of the week, on Thursday, March 21, it was determined that the prices remained the same.
In Italy, E3 scrap prices started the week of March 18 with a decline of 10€ and started to be traded from 2,78€ with a decline of about 360€. According to the Italian Steel Trade Association Assofermet, there was a significant reduction in demand and a great uncertainty in the scrap market.
According to SteelRadar data, starting with 18 € drops in Italy on 5 March, the rebar, which is traded from 590 €, was another steel product that has been observed to drop in its prices noticeably. It was noted that 14-40 mm [EN 10025 (S235JR)] steel plate began processing from 10€ level to 745€ in Italy, experiencing a decrease. Wire rod prices were last traded at 683€ on February, and dropped 11 March by 23€ and continued to be traded from 660€ until the week of 18 March.
Spain
It has been observed that the HRC market in Spain has remained stable since March 11th, maintaining its prices at €630. Rebar prices, on the other hand, have remained steady as well, with the last recorded price being €605 at the end of February, and continuing at the same stable level up until this current week.
Netherlands
After a period of decline, HMS 1/2 (80:20) prices in the Netherlands started to decrease again at the beginning of the week of March 18th.
According to SteelRadar data, HMS 1/2 (80:20) started trading at $349, experiencing a total decrease of $3 throughout the week of March 18th.
Germany
According to SteelRadar data, HRC originating from Germany was calculated at €705 on Monday, March 18th, which is a €5 decrease from €710 per ton on Friday, March 15th.
In the steel plate market, the situation is similar in Northern Europe, with prices for [EN 10025 (S235JR)] in Germany experiencing a €7 decrease, trading at €803.
Poland
It was observed that rebar prices in Poland started the week with a decrease of €8, trading at €635, experiencing a decline of approximately 1.26%.
The wire rod prices in Poland were €690 in the first week of March, and as of March 11th until the current week of March 18th, they continued to trade at €685, marking a decrease of €5. Sources attribute this negative price impact to adverse weather conditions and stagnation in the construction sector in Poland.
Benelux
Another country in Europe experiencing a sharp decline in the scrap market is Benelux. It was determined that the price of HMS 1/2 (80:20) fell by €8 at the beginning of the week, settling at €295.
Sources speaking to SteelRadar conveyed that trade across the EU is stagnant and they persist in their insistence that production reductions could help halt the downward trend and balance supply and demand.
United Kingdom
Wire mesh prices, which fluctuated during the week of March 15th, started the week of March 18th in the UK with a decrease of $3.5, trading at $573. Since the beginning of the week, it have shown a trend of increase, meeting source expectations. On March 19th, wire mesh prices increased significantly by $9 and reached $582.
As of March 20th, wire mesh prices in the UK showed a slight further increase, trading at $583.50.
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