Germany
In Germany, HRC prices remained stable at EUR 625, while CRC prices continued to trade at EUR 725. Market activity remained limited due to the holiday season, while no significant movement was observed in prices across Europe.
In Germany, scrap E40 prices remained stable at EUR 380. Germany's strong industrial infrastructure and the stability in steel production were effective in keeping scrap prices stable. However, it remains unclear whether these prices will show any resistance in the long term.
Rebar prices in Germany remained stable at EUR 620 during the week of 19 August. This price stability is directly related to the demand and supply balance in Germany's construction sector. Germany's strong economic fundamentals and sustainable growth in the construction sector limit the volatility of iron and steel prices. In addition, Germany's high production capacity and efficient supply chain management help stabilise price volatility.
Iron ore prices in Germany have been fluctuating between EUR 88-92 in recent weeks. However, the general trend is reported to be downwards. The decrease in Germany's iron ore prices is due to fluctuations in global markets and lower demand from major consumer countries such as China. Germany's iron ore imports fluctuate depending on changes in local markets and production costs. The country's strong industrial infrastructure helps it to better manage fluctuations in iron ore prices, while global economic conditions also trigger these changes.
Poland
Rebar prices in Poland remained stable at EUR 625. Poland's price stability is shaped by increasing production costs in the country. Higher energy costs and increasing raw material prices have forced Poland's iron and steel producers to keep prices high. However, Poland's growing infrastructure projects and investments in the construction sector contribute to keeping demand high and therefore stabilising prices. Poland's construction sector is more dynamic than in other parts of Europe, which supports high prices.
Wire rod prices in Poland decreased by EUR 2 to EUR 638 in the week of 12 August. However, this price remained unchanged in the week of 19 August. Uncertainties in the local supply chain and economic recession are the main reasons behind price fluctuations in Poland. Poland's increasing energy costs and changes in raw material prices have led to a decline in wire rod prices. Moreover, Poland's construction industry is facing demand challenges due to financial uncertainties and low investment rates. These factors cause prices to remain unstable.
Italy
With the end of the holiday season, especially in Southern Europe, it was a matter of curiosity whether the markets would pick up again. In Italy, CRC and HRC prices were stable at EUR 740 and EUR 615, respectively. However, as many factories in the region are still on holiday, no significant change is expected until next week.
In Italy, E3 grade scrap prices decreased by EUR 10 to EUR 328. The stagnation in Italy's industrial production stands out as one of the main factors behind this price decrease. The slowdown in economic growth and the decrease in steel production in the country have a negative impact on scrap demand. Moreover, increasing energy costs and general economic uncertainty continue to put pressure on the scrap market.
Rebar prices in Italy remained unchanged at EUR 590 during the week of 19 August. Italy's construction sector has faced economic difficulties and low investment rates in recent years. This has resulted in limited demand for iron and steel and kept prices under pressure. Moreover, increasing competition and low demand in Italy's construction sector have prevented prices from moving upwards. This stagnation in the country's domestic market keeps iron and steel prices at low levels.
Wire rod prices in Italy have been fixed at EUR 635 for a long time. There are several important factors behind this situation. Italy's construction sector is experiencing slow but steady growth, while the stability in the wire rod supply chain and strong local producers have allowed prices to remain at the same level for a long time. Italy's access to low-cost energy sources and strong infrastructure projects provide a balance in the market. Moreover, increasing demand in the country's construction sector incentivises suppliers to maintain this price level.
Spain
There is a similar picture in the Spanish steel market. In Spain, HRC remains stable at EUR 630 and CRC at EUR 750. Market players are cautious about price movements due to the current stagnation in the steel industry and uncertainties about the future. Factors such as low demand, import quotas and increasing transport costs are reported to be the main factors affecting the sector.
Rebar prices in Spain remained stable at EUR 600. Spain's price stability is attributed to ongoing construction projects in the country and balanced demand in the construction sector. Spain's construction sector is showing a solid demand profile thanks to urban renewal projects and new residential construction, especially in major cities. However, energy costs and difficulties in raw material supply limit the upward movement of prices. Spain's price stability is supported by these balanced demand and supply conditions.
Netherlands
HMS 1/2 (80:20) scrap prices in the Netherlands decreased by USD 9 to USD 343 during the week of 19 August. This decrease is considered to be a reflection of the general oversupply and low demand observed in the global scrap markets.
Benelux
In the Benelux region, HMS 1/2 (80:20) scrap prices decreased by EUR 10 to EUR 300. In particular, the slowdown in the construction sector and the summer holiday season are leading to a contraction in demand for steel production, which is pushing scrap prices down.
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