Germany
According to SteelRadar data, the German rebar market witnessed a significant decline: prices, which have been hovering around EUR 640 for some time, dropped by EUR 2 last week. Starting the week of 22 April with a decline of EUR -13, the rebar market traded at EUR 625 for the whole week. Rebar activities may be halted to allow the market to recover and this recovery may last until mid-June, sources said.
German HRC market, which has been hovering between EUR 665-655 since early April, dropped by EUR 30 during the week to 22 April and traded at EUR 635. Sources anticipate that further declines will be recorded in general steel products and some products will be difficult to recover in the short term. Some producers tried to increase HRC prices but failed as buyers refused to accept higher prices, sources said.
According to SteelRadar data, the steel plate [EN 10025 (S235JR)] market in Germany, which has witnessed significant decreases throughout April, last experienced a decrease of EUR 23 during the week of 15 April, with prices hitting EUR 770. According to the data, the steel plate market continued to trade at EUR 770 on 25 April, with sources stating that the downward trend in raw material prices and weak purchases affected prices in the short term.
For E40 scrap in Germany, prices have been trading at EUR 368 for a while, after falling by EUR 10 in the past few weeks.
Poland
According to SteelRadar data, the Polish rebar market continued to trade at a steady price of EUR 625 EXW in the new week after falling by EUR 3 last week. Sources said that the stagnation in the market has also made imports competitive in Polish market.
Wire rod prices in Poland, which have been stable for a long time, increased by EUR 7 to EUR 675 during the week of 22 April. Sources said that they are already expecting some activity in the Northern European wire rod market and that the market has started to pick up as customers have moved out of a wait-and-see attitude.
Spain
According to SteelRadar data, the 12-32 mm Spanish rebar market, which had been trading at EUR 605 for a long time, fell significantly by EUR -22 to EUR 583 in the new week due to the prevailing market conditions. Sources said that rebar prices started to fall due to the weak demand prevailing in the sector and the war conditions in the Middle East.
According to SteelRadar data, Spanish HRC prices, which had been hovering around EUR730 since mid-March, dropped by EUR70 to EUR 660 on 22 April. Sources said that the Israeli war has affected all steel product prices in Europe, emphasizing that prices have been reduced to avoid excess stocks in the last stockpiles.
Italy
According to SteelRadar data, Italian HRC prices remained stable at EUR 635 in the new week, following a EUR 10 drop in the week to 15 April.
While there was a general decline in Southern European steel products, Italian rebar >> 012-32 mm prices remained stable, sources said. Rebar prices, which dropped by EUR 5 to EUR 570 at the beginning of April, were trading at the same price in the week to 22 April, SteelRadar data showed.
SteelRadar data showed that, galvanised steel coil prices, which dropped by EUR 35 at the beginning of April, have been trading at the same price of EUR 866 for several weeks. Compared to the flat sheet market, wire rod [ASTM A510 (SAE1008)] prices, which gained a significant momentum of EUR 17 on 22 April, were calculated at EUR 645 in the new week. Sources report that demand for wire rod and its derivatives is high, order books are high and lead times are longer.
According to Assofermet, the Italian Steel Trade Association, the outlook for finished steel product sales remains negative, while SteelRadar data showed that Italian E3 scrap prices fell by EUR 7 to trade at EUR 353 in the week to 22 April.
Netherlands
HMS 1/2 (80:20) prices in the Netherlands have traded at a stable price level of USD 353 for a couple of weeks, down USD 6 during the week of April 8, according to SteelRadar data. On the other hand, prices started to rebound in the week starting from April 22.
Currently, 1/2 80:20 prices are trading at USD 356.
Benelux
It has been observed that the hot developments in the Middle East have also affected Europe and the prices of HMS ½ (80:20) in Benelux have also declined. According to SteelRadar data, scrap prices traded at EUR 308, down by EUR 5 in the week to 22 April, and it remains to be seen how they will progress in the coming days.
United Kingdom
According to SteelRadar data, in April, which was a month of fluctuations, prices rose by EUR 5.5 to EUR 584 on 15 April, followed by consecutive decreases on 16 and 17 April, and prices were traded at a stable EUR 578 on 18 April.
On 19 April, prices hovered around EUR 579 started to rise on 22 April and finally gained momentum on 23 April to trade at EUR 581. Sources emphasised that developments such as the end of inflation may support the demand for steel, while it was stated that the UK steel market was affected by high inflation and monetary tightening.
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