Bullish sentiment prevailed in the European heavy plate market in the week to 14 November, supported by an expected demand increase from infrastructure projects in 2026.
“Project expectation pretty good for next year especially in infrastructures and shipbuilding,” an Italian trader said.
European re-rollers also have been pushing for higher heavy plate prices as they need to cover rising costs for imported slab from next year, as the carbon border adjustment mechanism (CBAM) will come into force.
Slab offers from China have been reported at $520/t CFR Italy, from Vietnam at $515/t CFR and from Indonesia at $510/t. Semi-finished product from Libya was offered at $490/t CFR Italy, as the exporter was more focused on slab export sales due to technical issues on a production line, according to market sources.
Market participants estimated that CBAM duties for imported slab will be around EUR50/t.
Adding pressure on re-rollers, supply of imported slab will be reduced following implementation of the 19th round of sanctions against Russia adopted in the EU in late October including measures against Evraz PLC, a UK-headquartered company with core steel manufacturing and mining assets in Russia. Some re-rollers will have to find alternative slab sources, which most likely will be more costly.
Some sources expressed concerns that the current quota for Russian semi-finished steel imports adopted as part of the sanctions against Russia might not be extended, further reducing supply.
Italian re-rollers have been offering heavy plate at EUR670/t ex-works. Deals for this year’s rolling material with big buyers have been settled at EUR620-630/t ex-works and for smaller volumes some transactions have already been made at EUR650/t ex-works.
German mills have been offering plate at EUR710-730/t ex-works.
And offers from re-rollers in Benelux, Czech Republic and Denmark have been heard at EUR680/t ex-works, but the mills are targeting higher prices of EUR700/t ex-works.
| Weekly European heavy plate, slab and green steel | |||||
| Unit | Term | 14-Nov-25 | Change | ||
| Weekly heavy plate | |||||
| Northwest Europe ex-works heavy plate | EUR/t | EX-WORKS | 710.00 | 0.00 | |
| Germany delivered heavy plate (Northwest Europe) | EUR/t | DEL | 730.00 | 0.00 | |
| Italy ex-works heavy plate | EUR/t | EX-WORKS | 645.00 | 0.00 | |
| Weekly steel slab | |||||
| Italy CFR slab | $/t | CFR | 510.00 | 0.00 | |
| Weekly green steel | |||||
| Green heavy plate premium (scopes 1-3 CO2 under 1t) | EUR/t | 25.00 | 0.00 | ||
Maria Tanatar Associate Director, Steel and Green Steel
Benjamin Steven Journalist, Steel
