In Germany, HRC prices were stable at EUR 625 per ton and CRC prices at EUR 725 per ton. Market sources noted that there has been a significant decrease in demand due to the summer season and many traders are waiting for market conditions to become clearer. Plants in Northern Europe reported to have offered ex-works prices in the range of EUR 630-650 for HRC for delivery in September-October. However, these offers are also seeing limited interest due to low demand.
There is a similar situation in Southern Europe...
In Spain, CRC continues to trade at EUR 750 and HRC at EUR 630 at stable prices. Sellers reported that the market is calm, with only limited volumes being traded. "There are hardly any offers from plants at the moment because no one is demanding material. There is no demand, the market is stagnant," summarizes the current situation.
In Italy, HRC remained stable at EUR 615 and CRC at EUR 740. However, it is noted that the market has almost completely stopped due to the summer vacation. This decrease in demand is estimated to be around 30% compared to normal levels. The market is expected to revive at the beginning of September and its direction is expected to become clearer. Experts in the steel industry predict that prices may recover in October-November as stocking activities increase. In addition, the anti-dumping investigation initiated by the European Commission against HRC imports from Egypt, Vietnam, Japan and India may also contribute to higher prices.
In the meantime, the uncertainty in the market and the lack of demand create uncertainty as to how steel prices will shape up in the future. However, the market is expected to pick up again after the summer holidays.
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