HRC prices in Northern Europe rose from €560-570 per metric ton on January 6 to €570-580 per metric ton by January 20. In Germany, HRC prices jumped from €540-560 to €570-580, while Italy saw an increase from €555-565 to €560-580. Spain recorded a similar trend, with HRC prices reaching €580-590.
CRC prices also saw substantial increases. In Northern Europe, prices climbed from €640-660 to €660-680, while Germany maintained the same price range. However, significant price hikes were recorded in Italy and Spain, with Italy's CRC prices rising from €640-650 to €670-690 and Spain's from €650-660 to €670-690.
Plate prices have not been left out of the upward trajectory, rising in Northern Europe from €650-670 to €660-690 and in Germany from €650-660 to €650-680. Italy and Spain reported increases from €620-630 to €630-650.
Rebar prices also showed a positive trend, increasing in Northern Europe from €590-610 to €625-645 and in Germany from €570-590 to €630-640. In Italy, prices rose from €570-590 to €600-630, while in Spain, the increase was from €590-600 to €610-635.
Wire rod prices followed a similar pattern, with Northern Europe and Germany seeing rises from €600-610 to €610-620, and Italy's prices climbing from €590-610 to €620-630.
European customers struggle with high costs and CO2 certificates
European customers will need to purchase CO2 certificates due to the new Carbon Border Adjustment Mechanism (CBAM) regulations. However, many customers and traders are hesitant to incur these expenses due to high costs, which have been significantly driven up by increasing production expenses in Europe.
According to industry experts speaking to SteelRadar, evaluated the reasons behind the recent increases in steel prices. They emphasized that rising demand and increasing production costs, along with potential supply constraints, have a notable impact on pricing. Additionally, supply chain issues within the European steel sector and fluctuations in global markets were also highlighted as significant factors influencing prices. Experts warn that industries reliant on steel, such as construction and automotive, may face mounting cost pressures as a result of these price hikes.
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