Summer holidays largely neutered any potential for price movement across the European heavy plate markets in the week to 8 August, with McCloskey’s sources discussing developments in the segment’s low-carbon offerings.
The Northwest European spot market was working with prices between EUR660-690/t ex-works for s235 grade heavy plate – while the re-roller heavy Italian market lags, cited between EUR590-630/t ex-works.
Input prices for Italian re-rollers are increasing however, potentially lifting existing price floors in southern Europe, with import slab offers heard slightly higher at $510-515/t ex-Asia and Brazil, considered sourceable at a $500/t CFR minimum. Recent US tariff intensifications were said to be a primary factor in the increased availability of Brazilian-origin slabs – also heard purchased in strong volumes from German integrated producers recently to stockpile ahead of the Carbon Border Adjustment Mechanism’s definitive stage in January.
McCloskey’s conversations with sources largely surrounded the increased visibility of low-carbon heavy plate in Europe in lieu of usual market activity during the holiday period, A Bulgarian electric-arc furnace (EAF) producer is reportedly asking for a EUR100/t premium for its certified green heavy plate production, with this target matched in the market by other existing EAF plate producers such as in Slovenia or Macedonia.
Market participants did not see much chance of achieving EUR100/t premia for low-carbon plate sales, perceiving the majority of relevant deals from the EAF mills as trading without any – or a very minimal – green premium. Where premiums are negotiated, volumes were said to be small, with purchase prices specific to the budget of the dependent project and rarely exceeding green plate premiums of EUR50/t – considered by distributors to be a more realistic estimation of the low-carbon value-add.
Maria Tanatar Associate Director, Steel and Green Steel
Benjamin Steven Journalist, Steel
