Germany
Rebar prices in Germany remained stable at EUR 625. After trading at EUR 635 for some time, the German rebar market decreased by EUR 10 to EUR 625 last week. In the week to July 29, prices were unchanged. At the beginning of June, ArcelorMittal announced its intention to increase the prices of its long steel products across Europe. However, prices continue to decline in Northern Europe due to lower demand in the construction sector. Demand for flat steel products lagged behind in the first half of the year due to slowdowns in the automotive and construction sectors.
Especially in Germany, CRC prices remained stable at EUR 725, while HRC prices decreased by EUR 10 to EUR 625.
E40 scrap prices in Germany remained stable at EUR 378, while steel plate prices remained stable at EUR 723. The steel market in Germany is generally stable, with demand and price increase expectations remaining at low levels.
Poland
Rebar prices in Poland remained stable at EUR 623. Demand remains very low due to the recession and seasonal slowdown in the construction sector. However, demand is expected to increase with the start of new construction projects in September. The Polish government's low-interest housing loan program for young people's first home purchase aims to stimulate housing construction from 2024 onwards.
Wire rod prices increased by EUR 7 from last week to EUR 640. This increase was again despite weak demand, while trade volumes remained low, mainly due to the stagnation in the construction sector.
Spain
Rebar prices in Spain were set at 590 EUR. There was a decrease of EUR 5 compared to the previous week. Sources noted that the Spanish construction sector is on the verge of a structural problem as the consumption crisis across Europe deepens.
In Spain, HRC and CRC prices are more stable. The HRC market continues to trade at EUR 630 and the CRC market at EUR 750. Demand for imported steel products remained low due to the protection measures imposed by the European Union.
Italy
Rebar prices in Italy decreased by EUR 5. With this decrease, Italian rebar prices started the new week trading at EUR 605. Italian long steel producers expect the European Commission's new steel safeguard measures, which came into effect as of July 1, to have a positive impact on prices. However, the current lack of demand may limit the impact of these measures.
In Italy, HRC [EN 10025 (S235JR)] 2-3 mm prices were decreased by EUR 20 to EUR 575 for deliveries to Antwerp. HRC was decreased by EUR 10 to EUR 615, while CRC prices remained stable at EUR 740. The Italian and European coil market has been in a deep slump for weeks.
In Italy, E3 scrap prices decreased by EUR 19 to EUR 348. This decline came at a time when the market was generally weak and demand remained tight.
Wire rod (ASTM A510 SAE1008) and galvanized steel coil (0.5 mm) prices were stable at EUR 635 and EUR 856, respectively.
Steel plate prices also held steady at EUR 660, while Italy's industrial sector in general experienced a recession and prices remained stable.
Benelux
HMS 1/2 (80:20) prices in the Benelux region decreased by EUR 2 to EUR 323. This was mainly due to the low capacity of steel mills in the region and lower demand for scrap. There was no significant increase in scrap supply, preventing prices from falling further.
Netherlands
In the Netherlands, HMS 1/2 (80:20) prices were stable at USD 362. Across Europe, scrap demand and supply remain balanced, preventing prices from experiencing sudden fluctuations. Moreover, stable production levels and recycling processes of steel mills in the region also contributed to price stability.
United Kingdom
Wire mesh prices in the UK increased by USD 4.5 to USD 577.50 as of July 26. This increase was assessed as a result of the increase in demand in the construction sector and the rise in production costs. The construction sector in the UK showed an increase in demand, especially with the revival in housing projects.
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