HRC prices in Southern Europe continued to decrease in the week to April 15 due to weak demand, while prices in Northern Europe were up in the week to April 15th.
SteelRadar recorded that HRC prices in Northern Europe ranged between EUR 650-670 EXW during April, while HRC prices in Southern Europe ranged between EUR 655-730 EXW. Order books remain weak and orders from the automotive sector are down by 20% annually, with no significant recovery expected until the end of 2024, sources underlined.
At the same time, rumors of production cuts were heard to prevent the downward trend.
Having traded at the same price since the beginning of April, the German HRC market gained EUR 10 to EUR 665 this week, while Southern European HRC prices were stable at times and generally decreased due to lower demand.
The Spanish HRC market traded at EUR 730, which has been stable for a long time, while the Italian HRC market was down by EUR 10 to EUR 635 this week. Sources concurred that there is pressure on prices and thus Italian HRC market activity is weakening, with prices considered reasonable in the range of EUR 615-620.
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