However, Italian rerollers expressed concerns about finalized CBAM figures, heard by Fastmarkets on Wednesday December 10, because of their heavy reliance on imported slab as feedstock and the high costs associated with default values, which must be used to calculate costs if actual emissions data from suppliers is not available.
Under CBAM, default values are standardized emissions estimates published by the European Commission that importers can use when they lack verified actual emissions data from suppliers.
Sources said slab feedstock purchases by rerollers have stalled because of uncertainties around future costs.
Italy
Prices in Italy moved up and producer sentiment was bullish in the week, with offers targeting €700 ($820) per tonne exw. However, deals were made in the range of €660-670 per tonne exw.
Fastmarkets’ weekly price assessment for steel domestic plate 8-40mm, exw Southern Europe was €660-680 per tonne on Thursday, up by €10-20 per tonne from €650-660 per tonne a week earlier.
Northern Europe prices widened upward amid upcoming CBAM cost pressures, although the range remained wide because some mills were still offering low prices to attract purchases, sources said.
Fastmarkets’ weekly price assessment for steel domestic plate 8-40mm, exw Northern Europe was €660-730 per tonne on Thursday, widening upward by €30 per tonne from €660-700 per tonne a week earlier.
