European heavy plate producers have been targeting higher prices in the week to 7 November, amid rising costs and reduced availability of imported material.
EU authorities have proposed new tariff-rated quotas, both reducing the existing quotas and increasing duties. As a result, buyers have been showing increased interest in domestic plate as import volumes are expected to drop in 2026.
Italian re-rollers have been trading heavy plate at EUR620-640/t ex-works. As transaction prices started to approach the current target price of EUR650/t ex-works, market sources reported new price ideas of suppliers at EUR670-700/t ex-works for the first quarter of next year.
European re-rollers rely on imported slab, and the implementation of the carbon border adjustment mechanism (CBAM) from 2026 will result in higher costs. Sources estimated that CBAM duty for imported slab would reach around EUR50/t, making an increase in finished steel prices critical for the mills.
Offers of imported slab from China and Vietnam have been heard at $520/t CFR Italy, and exporters were ready to grant discounts of around $10/t. But re-rollers in Italy have been aiming for maximum prices of $500/t CFR, taking into the account the additional CBAM costs.
Some sources reported deals for semi-finished products from Brazil at $500/t CFR Italy, but the supplier is trying to increase the prices.
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 last week 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.
In Germany, prices have recovered over the week, with mills offering plate at EUR710-720/t ex-works.
Re-rollers from both Denmark and Czech Republic have offered plate at EUR680/t ex-works.
| Weekly European heavy plate, slab and green steel | |||||
| Unit | Term | 07-Nov-25 | Change | ||
| Weekly heavy plate | |||||
| Northwest Europe ex-works heavy plate | EUR/t | EX-WORKS | 710.00 | 10.00 | |
| Germany delivered heavy plate (Northwest Europe) | EUR/t | DEL | 730.00 | 10.00 | |
| Italy ex-works heavy plate | EUR/t | EX-WORKS | 645.00 | 0.00 | |
| Weekly steel slab | |||||
| Italy CFR slab | $/t | CFR | 510.00 | -5.00 | |
| 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
