Domestic prices for heavy plate increased across the EU in the week ended Jan. 20 amid support from solid demand and higher slab costs.
Demand has mainly increased from projects. While distributors buying material on spot basis have not shown higher demand, they have accepted the price increase.
“Plate producers are focusing on projects nowadays and for a good part of this year,” an Italy-based source said.
Platts assessed domestic heavy plate prices in Northwest Europe up Eur50 on the week at Eur990/mt ex-works Ruhr on Jan. 20.
Tradable values and offers were reported at Eur980-Eur1,000/mt ex-works Ruhr.
Platts assessed domestic heavy plate prices in South Europe at Eur860/mt ex-works Italy, up Eur20 week on week.
Spot deals were reported at Eur850-Eur870/mt ex-works Italy.
Italian re-rollers were targeting Eur900/mt ex-works for heavy plate, as the increase was needed to cover rising slab costs.
“Demand is gradually getting better; it is nothing crazy but we bigger buyers accepting higher prices,” a mill source said. “And we need to cover higher slab costs.”
Platts assessed import slab prices in Italy up $50 on the week at $690/mt CIF Italy on Jan. 20.
“Last week they increased substantially with workable levels around $700/mt CIF Italy – some producer less, some producer more than the mentioned level,” an Italy-based re-roller said. “Heard some earlier booking at $670-$680/mt CIF.”
Market participants, however, said that prices below $690-$700/mt CIF Italy were no longer available.
Platts is part of S&P Global Commodity Insights.
— Maria Tanatar
