European heavy plate prices held stable in the week to 10 July, with limited spot exposure maintaining prices at existing levels in Northwest Europe, and visibly declining slab costs subduing bullishness for Italian re-rollers.
Northwest European heavy plate spot price indications were reported stable between EUR800-820/t ex-works for s235 grade, and at a EUR30/t premium for s355 grade.
In the Italian market, prices have increased slightly to EUR720-730/t ex-works, though sources report material as still available at EUR710/t ex-works in negotiation.
Overall, bullishness in the Italian market has arguably been limited, rather than stimulated by the introduction of the EU’s new tariff-rate quota (TRQ) regime for steel imports, as according to one mill source, imports have traditionally only made up around 10% of heavy plate supply, putting pressure on domestic prices at only a few points during the year, now further reduced by the new TRQ restrictions.
However, the TRQ cuts have had a significant negative impact on origin accessibility to the EU on other steel goods, with the result that many exporters have flocked back to advertise semi-finished exports, namely slab for plate production, to European buyers.
“Everyone we’ve been dealing with over the last years is now back at our door with slab offers,” said a mill source. “They are exploring for new demand now that they cannot export their finished goods.”
Slab costs at $600/t CFR are considered as having sustained plate prices of around EUR700/t, so new TRQ effects and tightened import supply in the market, is coming up against visibly lower slab offers – cited at highest at $580/t CFR Italy – in buyer estimations of acceptable plate price levels. Mills have been able to realise an incremental increase on their plate products, but sources now do not expect any further rally of much significance until post-summer, when buyers return from holidays to restock.
| Weekly European heavy plate, slab and green steel | |||||
| Unit | Term | 10-Jul-26 | Change | ||
| Weekly heavy plate | |||||
| Northwest Europe ex-works heavy plate | EUR/t | EX-WORKS | 800.00 | 0.00 | |
| Germany delivered heavy plate (Northwest Europe) | EUR/t | DEL | 830.00 | 0.00 | |
| Italy ex-works heavy plate | EUR/t | EX-WORKS | 715.00 | 5.00 | |
| Weekly steel slab | |||||
| Italy CFR slab | $/t | CFR | 575.00 | -5.00 | |
| Weekly green steel | |||||
| Green heavy plate premium (scopes 1-3 CO2 under 1t) | EUR/t | 25.00 | 0.00 | ||
Author: Benjamin Steven
