According to SteelRadar data, Germany's HRC and CRC prices remained stable at 770€/mt and 870€/mt EXW, respectively, on February 5th. Market sources reported that stocks in Europe are high and buyers are unwilling to accept higher prices.
While HRC and CRC prices remained stable in Germany, Italy and Spain started February with decreases in HRC and CRC prices. CRC prices in Spain remained stable at €800/mt, while HRC prices were down by €5/mt to €790/mt EXW. According to SteelRadar data, hot rolled coil prices in Southern Europe remained stable at 750€/mt EXW on 2 February, while prices in Italy decreased by 5€/mt to 745€/mt on February 5th. CRC prices remained stable at 870€/mt as of February 5th, while 2-3 mm HRC prices decreased by 25€/mt to 645€/mt.
Sources reported that supplies were prolonged due to geopolitical problems in the Black Sea region, there were concerns about the protection quotas and there were also concerns about the future pricing trends.
Comments
No comment yet.