HRC prices in Germany started the week of July 21 with a decrease of EUR 15 to EUR 635. CRC prices remained stable at EUR 735. Market players noted that higher offers have not yet translated into concrete deals. A German buyer commented, “European mills usually increase their offers and wait for the market to pick up after the summer holidays. However, as long as there are no signs of any recovery on the consumption side, it is hard to expect prices to increase,” a German buyer noted.
HRC prices in Spain also decreased by EUR 15 to EUR 635. CRC prices, on the other hand, decreased by EUR 40 to EUR 750. In Italy, HRC prices remained stable at EUR 625, while CRC prices decreased by EUR 10 to EUR 740.
Sources noted that this stagnation might be temporary with the expected recovery in the market as the summer holidays are over. However, unless there is an increase in demand, prices are unlikely to rise. These price decreases in the European steel market were also seen as a reflection of economic uncertainties and demand fluctuations.
Market experts noted that after the summer break, producers had set higher price targets and expected activity in the market. However, given the weak consumer demand and economic uncertainties, it remains unclear whether these expectations will materialize. Europe's major steel producers are cautiously optimistic about the future of the market and emphasized that demand growth is needed to stabilize prices.
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