In Europe, demand for steel stagnated, the market slowed down and raw material prices increased, which again had a negative impact on the steel market this week.
Poland
According to SteelRadar data, rebar prices in Poland, which fell to EUR 635 on March 18, remained stable in the week to March 25. Rebar prices in Poland, which were estimated at EUR 645 during February, are expected to rise in the coming days due to the increasing number of housing units and the need for more rebar, according to sources.
As for 5.5-10mm wire rod, it was down by EUR 5 only in the first week of March, while it remained unchanged throughout the month and closed the month at EUR 685.
Germany
The German rebar market started the new week with a decrease. According to SteelRadar data, rebar started the week of March 25 with a drop of EUR 5, while the current price of rebar in Germany is estimated at EUR 640. Sources said that no new deals have been announced across Europe and reduced consumption has led to a pessimistic outlook for the Northern European rebar market, while buyers are waiting for the post-Easter holiday period for clearer tonnage orders.
HRC prices in Germany, which traded at EUR705 in the week to March 18, were down by EUR15 to trade at EUR690 at the start of the week on March 25, while trade in the region remained limited and there were no major deals in the market. According to sources, buyers expect import volumes to be clearer after the Easter holidays and are refraining from buying at the moment.
It was noted that the scrap market in Germany has been on an uptrend unlike other countries, with E40, which last experienced a price change at the end of February, rising by EUR10 to trade at EUR378 on March 4 and continuing to trade at EUR378 at the start of the week on March 25.
Italy
SteelRadar data showed that Italy, which closed the week of March 18 at 590 EUR, started the new week with a decline of 25 EUR, with current rebar prices at 575 EUR.
According to Assofermet, the Italian Steel Trade Association, there has been a significant decrease in demand and a great deal of uncertainty in the scrap market, while E3 Italian scrap prices, which decreased by EUR 10 on March 18 to reach EUR 360, were observed to be trading at the same price on March 25.
HRC [EN 10025] prices in Italy, which last changed on Monday, March 18, remained unchanged at EUR 675 in the week that started on March 25.
Another product that started the week of March 25 with a decrease was A510 grade wire rod. 30 EUR dropped significantly from EUR 660 to EUR 630 and remained stable throughout the week.
Spain
According to SteelRadar data, rebar prices in Spain have been trading at EUR 605 for a long time.
Regarding Italy's HRC market, which has been quiet, the situation in Spain remains similar, with prices trading at EUR 730, which has been stable since March 11, and no major changes are expected in the coming quarter.
Netherlands
In the Netherlands, HMS 1/2 (80:20) prices, which started to recover after a downward trend for a while, started to be traded at 349 USD with a decrease of 3 USD on March 18 and continued to be traded at the same price on March 25. Coming towards the end of the week, HMS 1/2 (80:20), which started to trade at USD 359 with regular increases of USD 4, is expected to increase again after remaining stable for a while and to regain the high level it reached last month.
Benelux
In Benelux, the market situation for HMS 1/2 (80:20) was also reported to be stable, with scrap prices falling by EUR8 to EUR295 on March 18 and trading up by EUR 5 to EUR 300 in the week to March 25.
United Kingdom
According to SteelRadar data, UK wire mesh, which closed the week of March 22 at USD 583 with a slight decrease after week-long gains, entered the week of March 25 at the same level. While sources expect the volatile trend to continue, they underline that prices are likely to increase in the short term.
UK wire mesh rebounded marginally by USD 1.5 to trade at USD 584 on March 26.
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