EU steelmakers lower heavy plate prices

European steelmakers have decreased domestic prices for heavy plate in the week to May 19 due to lower slab costs and the availability of excess volumes in the market.

Platts assessed domestic prices for hot-rolled coil in South Europe down by Eur25/mt on the week at Eur820/mt ex-works Italy on May 19.

Offers have been reported at Eur820-850/mt ex-works Italy, with deals at Eur800-850/mt ex-works Italy.

“Big buyers want prices to move below Eur800/mt ex-works Italy, but for now they do not push too hard to achieve it,” an Italian re-roller said.

In Italy, plate produced by re-rollers using imported slab and the decline of semi-finished steel prices had a downward effect on the market’s mood, sources said.

Platts assessed prices for imported slab in South Europe at $610/mt CIF Italy, don by $40/mt on the week.

Most market sources reported offers for Asia-origin slab at $600/mt CIF Italy.

One source, however, said the lowest offers for slab that would be suitable for plate production were at $620-$630/mt CIF Italy.

In Northwest Europe, some mills have been cutting offers in the attempt to sell excess volumes in the spot market, sources said.

The region’s re-roller has been offering s355jr-grade plate at Eur950/mt delivered Germany.

A German mill has offered the material at the equivalent of Eur900/mt ex-works Ruhr for s235jr grade.

Platts assessed domestic prices for heavy plate in Northwest Europe down by Eur25/mt on the week at Eur925/mt ex-works Ruhr on May 19.

Author Maria Tanatar