Domestic prices for heavy plate were under pressure from low demand in the week to Nov. 4, while Italian rerollers accepted lower prices and German mills held offers stable.
Platts assessed Italian heavy plate down Eur25/mt week on week at Eur875/mt ex-works Italy.
Tradable value has been reported at Eur850-900/mt ex-works, and bids have been heard at Eur850/mt ex-works.
Distributors have shown little interest in heavy plate purchases due to sufficient inventories and traditional destocking by the end of the year. Some sources said buyers have started to show interest in material that would be delivered in January-February 2023.
“Demand for plate is low as stockholders have enough material, but the situation is not too bad,” an Italian reroller said. “There are some inquiries for first-quarter delivery.”
Slab prices, in the meantime, have also moved down due to lower offers from Asia.
Offers of the semifinished products from China have been heard at $560-$590/mt CIF Italy and from Indonesia at $580/mt CIF Italy. Unconfirmed offers from Indonesia have also been reported at $540/mt CIF Italy.
A supplier from Iran has also been offering slab at $540/mt CIF Italy. Interest in the material has been limited despite the low price.
Platts assessed import slab into the benchmark Italian market at $575/mt CIF Nov. 4, down by $25/mt week on week.
In Northern Europe, German mills have been holding from trading in spot market and preferred to focus on long-term contracts and projects.
Platts assessed heavy plate in Northern Europe stable week on week at Eur1,000/mt ex-works Ruhr, reflecting achievable prices and offers.
A Scandinavian reroller continued to give competitive offers — of about Eur930-940/mt delivered Germany for s355jr plate. Some buyers, however, have been avoiding the material as Russian slabs have been used as feedstock.
Platts is part of S&P Global Commodity Insights.
— Maria Tanatar, Benjamin Steven
