Germany
According to sources, the current low steel prices in Germany and neighbouring countries will not recover quickly until 2024.
Rebar producers in Germany are trying to push up prices after last week's wave of purchases, which signalled a temporary increase in production after a month-long low. Prices have been hovering around €600/ton ($633) for around two months.
In the plate market, the price level has decreased. In Germany, plate offers for S235JR from France were heard this week at EUR 690-700/t EXW Ruhr, compared to EUR 670-685/t EXW last week.
Market sources said on Wednesday (8 November) that European steel mills are committed to price hikes ahead of talks with the automotive sector in the region, while restocking and reduced supply volumes support the uptrend despite continued real demand. In the HRC market, deals were reported at €640-650 per tonne ex-works in Germany, while deals were heard at €660 per tonne ex-works in the Benelux region, albeit for limited volumes.
Poland
Domestic rebar and wire rod prices in Poland remained flat amid sluggish trade.
Rebar and wire rod prices remained broadly stable amid sluggish business activity, SteelRadar reported, citing market sources. Demand from the construction industry, the main consumer of rebar, remains weak. Polish traders set their offers for 12-32 mm rebar in the range of EUR 605-620/t CPT.
The wire rod market was also quiet this week. SteelRadar's weekly wire rod price assessment stood at EUR 658/t.
Two producer sources in Europe shared the view that an increase in wire rod prices is necessary.
Spain
As was the case last month, there is no visibility in the Spanish rebar market and sales are made on a daily basis. However, despite the slow activity, distributors report a very acceptable month in October, with no low-priced Spanish or Italian cargoes available. Prices are hovering around EUR 560.
Sources said that European steel mills are targeting an increase in cold rolled prices due to rising costs.
However, HRC and CRC prices in Spain remained flat this week. HRC and CRC prices are standing at €655 and €680, respectively.
Italy
Trading activity in the Italian plate market gradually decreased after active restocking over the past three weeks. However, some producers increased their offer prices to cover the high production costs associated with expensive slabs.
Applicable prices for December delivery of large- and medium-volume Italian slabs (S275 grade, 12-40 mm thickness) were set at EUR 690-700/t EXW this week and remained unchanged during the week.
Long product producers in Italy will suspend their operations for a longer period than usual this winter due to unfavourable market conditions. October saw a new wave of increases in energy prices. In addition, demand for long products in Italy has been weak since the start of the new season in September, with producers struggling to maintain their prices.
Italian mills are continuing their attempts to increase wire rod prices, but buyers are resisting. Workable prices for Italian wire rod were steady at EUR 600-610/t DAP, November delivery, during the week. Mills are continuing their efforts to increase wire rod prices to 630 EUR/t DAP, but buyers are not accepting higher prices, although the level of demand is reported to be quite acceptable for some suppliers.
As for scrap, prices were stable at EUR 310/t in Italy this week.
The UK
Wire mesh prices dated 7 November 2023 have been announced in the UK. On 7 November 2023, there was an increase in UK wire mesh prices. According to the announced data, wire mesh prices dated 7 November 2023 are trading at 567.00 USD.
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