Germany
In Germany, HRC and CRC prices remained stable at EUR 625 and EUR 725 respectively. According to market sources, some mills have to work with narrow margins depending on furnace types and therefore prices are not expected to decrease further. Low demand in the European automotive sector and China's competitive exports are causing the market to struggle.
In Germany, E40 scrap prices increased by EUR 2 to EUR 380. However, in general, no major price fluctuations are expected in August. The slight increase in prices is attributed to higher scrap collection costs and higher freight prices. According to reports from Germany, new offers are expected to be announced in September and prices may change at that time. In August, prices are likely to follow a more stable course.
In Germany, the price of 14-40 mm thick steel plates produced to EN 10025 (S235JR) standard remained stable at EUR 600. Prices in the German steel market remained generally stable in August, but market players remained cautious due to cost pressures and fluctuations in energy prices, according to sources. Slowing demand, especially in the construction sector, led to stable steel plate prices. Some movement is expected in September.
Poland
Domestic prices in Poland decreased slightly due to low demand and oversupply. However, rebar prices in Poland increased by EUR 2 to EUR 625 in the week to August 5, according to SteelRadar data. With the exception of the cutting and bending sector, overall demand continued to remain low. "Demand in Northern Europe is currently moderate, but prices are decreasing due to oversupply," a distributor reported. Producers, on the other hand, stated that they did not expect any major changes in August.
In Poland, prices for 5.5-10 mm wire rod were stable at EUR 640 in the week to August 5. The market is generally calm due to the summer season and demand is at low levels. Polish steelmakers are keeping wire rod prices stable, with prices, especially for low-carbon wire rod products, in the range of PLN 2,750-2,800 (EUR 636-648). Market sources stated that they expect an increase in demand in September, but do not foresee any major price movements for the time being.
Italy
In Italy, rebar prices decreased by EUR 15 to EUR 590 in the week to August 5. Sources reported that reduced demand and market conditions affected the rebar market.
Prices also remained stable in Italy. HRC prices were stable at EUR 615, CRC at EUR 740 and galvanized steel coil at EUR 856. The market reported that order books were weak and some sellers still have September delivery deadlines. Producers for the automotive sector reported that they were facing excess tonnage in the spot market due to weak demand.
In Italy, E3 scrap prices decreased by EUR 10 to EUR 338. Market experts stated that tight scrap supplies will keep prices stable. Producers are cautious to make firm offers and it is expected that price fluctuations are not permanent and a clearer picture will emerge in September.
Spain
In contrast, rebar prices in Spain increased by EUR 10 to EUR 600. The increase in Spain was attributed to the intensity of construction projects and increased demand. The European rebar market was characterized by a slowdown in August and regional price changes. Sources noted that similar trends are likely to continue in the European rebar market in the coming weeks.
In Spain, CRC and HRC prices were stable at EUR 750 and EUR 630, respectively. Incentives are needed to revive the market, sources noted. Across Europe, CRC and hot dipped galvanized coil (HDG) prices remained under pressure amid weak demand.
Benelux
In the Benelux region, scrap prices for HMS 1/2 (80:20) decreased by EUR 10 to EUR 313. Prices in the region were reportedly focused on scrap demand, especially from Turkey. However, stagnant demand from Turkey put pressure on scrap prices in Benelux. This has led exporters in Benelux to slow down the pace of collection and reduce wharf prices. While these prices are expected to remain stable in August, changes in Turkey's scrap demand could have a significant impact on the market.
Netherlands
In the Netherlands, scrap prices for HMS 1/2 (80:20) decreased by 1 USD to 360 USD. The Dutch market is generally moving in line with the Benelux market and Turkish demand plays a decisive role here as well. Due to the uncertainties in Turkey, prices in the Netherlands are also likely to fluctuate in the short term.
United Kingdom
Steel mesh prices in the UK decreased by USD 7.5 to USD 570 as of August 5. This decrease was seen as a reflection of the slowdown in construction activity in the UK. Demand for steel mesh has declined while producers are trying to stabilize their costs. It was reported that the market was generally slow due to the summer vacation period, but there is a potential for renewed activity in September.
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