Steel plate producers in Europe attempted to impose price increases amid the approaching introduction of the EU’s Carbon Border Adjustment Mechanism (CBAM) in January 2026. But the new higher levels were not widely accepted in the week to Thursday December 18, with transaction prices largely stable.
Implementation of CBAM was expected to affect significantly the price in the region for imported slab, which is widely used as a feedstock for local re-rollers, as is imported heavy plate.
The final document released by the European Commission last week showed higher default emissions values compared to those in the previous version, especially for key suppliers such as China, Indonesia, Vietnam and Russia.
Default values are emission values that importers must use under CBAM when actual emissions data is not reported or cannot be verified.
Based on finalized default CBAM values for 2026 estimated by Fastmarkets, the estimated costs for slab imports using default emission intensities are approximately €144 ($169) per tonne for China, around €149 per tonne for Russia, about €230 per tonne for India and €541 per tonne for Indonesia.
Meanwhile, Brazil’s defaults have been calculated at a comparatively lower €22 per tonne, making the country an attractive option in the near future.
In such conditions, European platemakers increased their offers in the domestic market.
Key Italian re-rollers targeted €700-720 per tonne ex-works, Fastmarkets learned on December 18. But most recent sales were reported within the range of €650-680 per tonne ex-works.
Fastmarkets’ weekly price assessment for steel domestic plate, 8-40mm, exw Southern Europe, widened downward to €650-680 per tonne on December 18 from €660-680 per tonne on December 11.
After the assessment was filed, however, information came to light that some customers had already accepted the price of €700 per tonne ex-works.
In Northern Europe, the price range was also wide, depending on the policy of the supplier. Sales were heard within the range of €650-700 per tonne ex-works, with some mills targeting even higher prices.
Fastmarkets’ weekly price assessment for steel domestic plate, 8-40mm, exw Northern Europe, was €650-730 per tonne on December 18, widening downward slightly from €660-730 per tonne a week earlier.
Activity in the import plate market was minimal, with buyers unwilling to take CBAM-related risks. A buyer source reported ample stocks of the material available in ports.
Slab
The import slab market was almost as quiet for the same reason.
Offers from Asia, including China and Vietnam, varied within the range of $500-520 per tonne CIF.
A cargo of Chinese slab was, nevertheless, heard booked at $506-507 per tonne CIF last week.
There was also Russian material heard available within the range of $480-495 per tonne CIF. Nevertheless, the volumes of Russian supply to third parties in Italy have been minor recently. Moreover, it may be difficult for buyers to provide actual emissions values from Russian mills due to the tense geopolitical situation caused by Russia’s military aggression against Ukraine.
As a result, Fastmarkets’ weekly price assessment for steel slab, import, cif Italy, was $500-520 per tonne on Thursday, stable week on week.
