Domestic steel heavy plate prices in Europe increased further this week, with Italian producers raising target prices amid increasing slab costs and limited October availability, while in Northern Europe stronger offers and constrained material availability pushed plate prices higher, sources told Fastmarkets on Thursday September 3.
Italy
In Italy, S235-grade plate was heard being offered at €740-760 ($859-883) per tonne ex-works, increasing from previous levels at €740-750 per tonne ex-works quoted a week earlier.
However, no fresh trading activity was reported, as the market was still recovering from the Italian Ferragosto summer shutdown in August.
A producer source said they expected plate re-rollers to defend levels no lower than €750-760 per tonne ex-works for the fourth quarter of the year due to higher slab import costs.
The same source said they were targeting €760-780 per tonne ex-works but had not officially restarted sales yet, with their remaining tonnage for October being limited.
As a result, Fastmarkets’ weekly price assessment for steel domestic plate 8-40mm, exw Southern Europe was €740-760 per tonne on Thursday, up from €710-740 per tonne on August 27.
Prices for steel slab imports into Italy increased during the week, driven by higher raw material costs in China pushing up new offerings for November deliveries, sources told Fastmarkets.
Fastmarkets’ weekly price assessment for steel slab import, cif Italy was $560-580 per tonne on Thursday, up from $550-560 per tonne a week earlier.
No fresh plate import activity was heard during the week, therefore, Fastmarkets’ weekly price assessment for steel plate (8-40mm), import, cfr main port Southern Europe, was €710-750 per tonne on Thursday, stable week on week.
Northern Europe
In Northern Europe, latest offers were reported for German base plate at €875 per tonne ex-works and €870-880 per tonne ex-works, increasing from the latest indication for workable levels heard at €850 per tonne ex-works a week earlier.
Higher offers in Germany emerged in the market in late July when mills were said to have very good order books related to projects, but no trading activity above €850 per tonne ex-works was confirmed at the time.
However, the tighter availability of material in the market had been pushing new prices even higher.
This was reflected in Fastmarkets’ latest weekly price assessment for steel domestic plate 8-40mm, exw Northern Europe, which was €850-875 per tonne on Thursday, up from €820-850 per tonne a week earlier.
The plate import market in Northern Europe was quiet during the week, but prices were calculated in line with those in the South, reflecting growing domestic levels.
The corresponding Fastmarkets’ weekly price assessment for steel plate (8-40mm), import, cfr main port Northern Europe, was €710-750 per tonne on Thursday, narrowed upward by €10 per tonne from €700-750 per tonne.
