Rebar and wire rod prices in Northern Europe remained stable in the week leading up to December 11, despite a significant disruption caused by a cargo ship crash on the Moselle River in Muden, Germany. The accident damaged a lock and blocked 70 ships, affecting the transport of 8.1 million tonnes of goods, including steel raw materials and other commodities.
The incident has led to a rise in international scrap prices, halting a prolonged downturn in Turkey’s market. The index for steel scrap HMS 1&2 (80:20 mix) from North Europe to Turkey increased to $339.45 per tonne, up by $14.45 per tonne. This rise is attributed to the need for alternative, costlier transport methods such as truck and rail.
Despite the disruption, rebar prices in Northern Europe were assessed at €610-645 per tonne, unchanged from the previous week. Wire rod prices also remained stable at €600-610 per tonne. The market outlook remains cautious, with mills pushing for higher prices only for urgently needed materials.
