Steel stocks across Europe have increased, but HRC and CRC prices have remained virtually unchanged, causing an increase in HRC and CRC stocks, sources told SteelRadar.
According to sources who spoke to SteelRadar, the geopolitical issues in the Black Sea region are causing longer supply times and the concerns over safeguard quotas in Europe are expected to affect the future price trend.
Germany
In Germany, iron ore experienced the most price fluctuations. Unable to maintain a stable price level throughout the week, iron ore followed a downtrend.
Despite starting the week of February 5 with an increase of €0.78 from €119.34 to €120.12, iron ore was recorded at €117.77 on February 7, according to SteelRadar data.
Like HRC prices, rebar prices have also remained stable since the start of the new year, with no notable changes in Germany.
Sources informed SteelRadar that for the German steel industry, mills expect production to increase in the second quarter, but demand will be low and prices are expected to decrease.
Benelux
SteelRadar data revealed that HMS 1/2 (80:20), which remained stable at €335 for the past two weeks, increased by €10 to €345 in the week to February 5.
HMS 1/2 (80:20), which remained stable throughout the week, maintained its current price of €345 on February 8.
Poland
According to SteelRadar data, rebar prices in Poland were in the €660-665 range as of February. According to sources, demand for rebar [12-32 mm] is expected to rise in March-April, despite prices remaining stable.
In Poland, SteelRadar recorded wire rod [5.5-10mm] prices at €705 in the week to February 5, and sources reported that the stagnant demand in the country is likely to give way to falling demand.
United Kingdom
Wire mesh prices, which reached their highest level of 620 USD last January, continued to experience a downward trend during the week of February, even though they followed a fluctuating course.
UK wire mesh settled last week at USD 615, down USD 5.
SteelRadar recorded the current UK wire mesh price at USD 610, down USD 3.5 from February 6.
Italy
HRC and CRC prices, which were stable to higher across Europe, followed the opposite path in Italy, with HRC prices down by €5/mt to €790/mt EXW.
SteelRadar calculated 2-3mm HRC prices in Italy at €645/mt, down €5/mt.
In Italy, steel plate [14-40] prices started the week with an increase of EUR 5, while SteelRadar recorded the current price at €780.
Spain
SteelRadar recorded HRC [EN 10025] prices in Spain falling by €5 to €790 for the week to February 5, closing the week at €790, maintaining its trading level.
On the other hand, rebar remained stable across Europe, trading at €633 in Spain, following the last significant price increase in January.
As for CRC, SteelRadar calculated [EN 10130] at €800 across Spain.
Netherlands
Last week, SteelRadar recorded an increase of 3 USD for HMS 1/2 (80:20) in the Netherlands and calculated that the price was trading at 391 USD.
HMS 1/2 (80:20) was unable to maintain its stable trend in the current week and SteelRadar reported the current price down by USD 2 to USD 389.
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