Germany
In Germany, HRC prices were stable at EUR 625 per ton and CRC prices at EUR 725 per ton. Market sources noted that demand dropped significantly over the summer, with many buyers waiting for the market uncertainties to be clarified. Although HRC prices for delivery in September and October are in the range of EUR 630-650, interest in these offers is limited due to low demand.
Rebar prices also continued to trade around EUR 620 in Germany. The uncertainty in raw material prices across Europe and the general weakness of the market continue to be a concern.
In the scrap market, E40 scrap prices remained stable at EUR 380. Germany's stable economic situation and the impact of the summer vacation period contributed to the stable prices.
Poland
Rebar prices in Poland remained stable at EUR 625, while wire rod prices decreased by EUR 2 to EUR 638. Low demand and lower raw material costs contributed to this price decrease. According to market sources, no price increases are expected in the third quarter, and prices may even decrease further as mills return to the market in September.
However, there is hope for a post-summer recovery in Poland's construction sector. Some producers expect demand to pick up in September, but say that restocking will be difficult.
Italy
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 launched by the European Commission against HRC imports from Egypt, Vietnam, Japan and India may also contribute to higher prices.
In Italy, E3 scrap prices remained stable at EUR 338. Italy's steel production capacity and steady local demand have helped stabilize prices. However, economic weakness across Europe and the possibility of higher energy costs may lead to changes in the Italian scrap market in the coming periods.
Rebar prices in Italy remained stable at EUR 590. Wire rod prices in Italy, on the other hand, were maintained at EUR 635, with an increase expected in the future due to higher scrap prices. Slow demand and fluctuations in energy costs were cited as the main reasons for the stable prices for the time being.
Spain
In Spain, CRC prices continue to trade at EUR 750 and HRC prices at EUR 630. Sellers state that the market is calm, with only limited volumes being traded. A distributor emphasized that there are very few offers from mills and the market is stagnant due to lack of demand.
Rebar prices, on the other hand, remained stable at EUR 600 in Spain, while supply chain issues and rising raw material costs in Southern Europe signal that prices may rise in the future.
Netherlands
In the Netherlands, HMS 1/2 (80:20) prices decreased by USD 8 to USD 352. Sources noted that the decrease was driven by the weakening global demand in the country's export-oriented economy. The decrease in demand, especially from major consumer countries such as China and the US, is having a negative impact on scrap prices in the Netherlands.
Benelux
HMS 1/2 (80:20) scrap prices in Benelux decreased by EUR 3 to EUR 310 during the week of August 12. This decrease is seen as a reflection of the demand contraction in the overall market. Economic uncertainties, especially in Europe, are believed to have put pressure on scrap demand.
UK
Wire mesh prices in the UK continued to trade at USD 574 during the week of August 12. Prices are expected to remain stable in the coming period depending on market conditions and demand.
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