Price fluctuations continue in the European long product market

There was a notable decrease in Italian steel plate prices in the week of 27 May. Prices of 14-40 mm steel plate according to EN 10025 (S235JR) standards decreased by EUR 40 compared to last week to EUR 710. The effect of the decrease in raw material costs was significant in this decline. As the producers reflected the cost advantage to the prices, there was a significant decline in prices due to competition.

Recently, weak demand and increased competition in Spain led to a decline in rebar prices. Rebar prices in Spain dropped by EUR 5 to EUR 600.

Rebar and wire rod prices in Northern Europe have been increasing

Rebar and wire rod prices increased in Poland. According to SteelRadar data, the rebar market started the new week with an increase of EUR 3 and prices were updated at EUR 628. Polish wire rod prices, on the other hand, increased by EUR 5 to EUR 675. Increased operational costs of production facilities in the region and rising demand played a major role in these increases. High demand led suppliers to raise prices.

In Germany, rebar prices remained stable at EUR 625, while steel plate 14-40 mm [EN 10025 (S235JR)] increased by EUR 7 to EUR 630. This increase was the result of a slight rise in raw material costs and stable demand.

Projects aiming to revitalise the construction sector are being discussed in the Netherlands

In the Netherlands, the new coalition government draws attention with ambitious projects aiming to revitalise the construction sector. The coalition formed by the nationalist PVV led by Geert Wilders, the centre-right VVD, the new NSC party and the BBB parties officially reached an agreement on Wednesday, 15 May.

One of the main goals of the coalition is to close the housing deficit by building at least 100,000 new homes annually. In this context, it is also planned to convert existing properties such as offices into housing. However, obstacles to construction projects such as high costs and weak economic conditions still remain. Improving weather conditions and the possibility that the new government will prioritise housing projects may support a rise in demand.