The supply shortage in the European steel market, which has been driving up domestic prices since late 2020, will persist until the end of this year at the very least, market sources told Fastmarkets.
The European wire rod market was calm in the week ending January 6 as the holidays continued.
Beam prices rose in Europe before factories returned to the market after the New Year holidays.
Turkish steel mills continue to stockpile scrap shipments. Given that the increase in the price of steel products, especially billets, has also affected the price of scrap.
Domestic hot rolled sheet prices rose in northern Europe on December 1 due to a shortage of materials.
European rebar manufacturers are looking for high prices, citing small stocks and rising production costs.
A fundamental change in EU waste transport regulations could lead to a total ban or control of scrap exports.
Fear of quarantine and other restrictions Among the many cases of Covid-19 limit the activity of rebar purchases in southern Europe, leading to further price reductions, while in the north the prices were largely unchanged.
Steel beam prices in Europe have not changed this week due to the negative trend related to the Covid-19 epidemic.
One of the most important challenges posed by the corona crisis around the world is the heavy economic impact it has had on the economies of industrialized nations.