European heavy plate prices were largely stable in the week to 7 August, with trading activity muted amid the summer holiday season.
In Northwest Europe, particularly Germany, market sources have started to report higher price indications for forward spot offers on commodity grades, as one of Germany’s few heavy plate mills with allocations for the spot market has full orderbooks from US project-based demand.
McCloskey’s North European sources have been reporting market price on a gradually tightening spread in recent weeks, with no indications received below EUR800/t ex-works in the latest trading period.
Other German heavy plate producers are similarly locked-up with long-term contract allocations – until end of year in some cases – further limiting spot supply.
In Italy, mills are mostly down for maintenance, and declining slab offers ex-Asia in the meantime are limiting source expectations on price recovery for the market’s re-rollers.
Deals were reported to McCloskey at EUR700-720/t ex-works Italy for smaller lots, with larger buyers able to negotiate down to between EUR690-700/t ex-works in latest deals.
Slab offers were heard between $540-560/t CIF Asia, with deals ex-China settling in the middle of said range, at $550/t. Cheaper slab is available ex-Indonesia at $540/t CIF, but as this material comes with potentially higher Carbon Border Adjustment Mechanism costs, the lower price is not necessarily as competitive as it appears.
As Italian heavy plate sales strategies are aligning to slab cost variability, sources hope that adjacent coil price increases will incentivise slab exporters in Asia to increase offer prices, though any bullishness could be offset by increased EU protectionism on finished steels, pushing third country producers back toward comparatively unburdened semi-finished export markets.
| Weekly European heavy plate, slab and green steel | |||||
| Unit | Term | 07-Aug-26 | Change | ||
| Weekly heavy plate | |||||
| Northwest Europe ex-works heavy plate | EUR/t | EX-WORKS | 820.00 | 0.00 | |
| Germany delivered heavy plate (Northwest Europe) | EUR/t | DEL | 810.00 | 0.00 | |
| Italy ex-works heavy plate | EUR/t | EX-WORKS | 700.00 | 5.00 | |
| Weekly steel slab | |||||
| Italy CFR slab | $/t | CFR | 550.00 | -5.00 | |
| Weekly green steel | |||||
| Green heavy plate premium (scopes 1-3 CO2 under 1t) | EUR/t | 25.00 | 0.00 | ||
Author: Benjamin Steven & Maria Tanatar
