European heavy plate round-up: Heavy plate prices up in Germany, down in Italy

Domestic heavy plate prices inched up in Germany and remained stable in Italy over the week to 27 February, while restocking activity has been muted. 

In Italy, re-rollers continued to aim for EUR750/t ex-works, but such prices were achieved only in deals settled for projects for the material with higher added value. Spot buyers booked limited volumes at EUR700-740/t ex-works.

Big stockists have not returned to the market looking for volumes yet, but their price ideas are closer to EUR700/t delivered. Sellers have not accepted such prices.

Re-rollers in Italy claim that they have solid order books – selling late March-April rolling – and they feel no pressure to give discounts.

In addition, they need to maintain higher plate prices to cover potentially high Carbon Border Adjustment Mechanism (CBAM) duties for imported slab. Re-rollers estimated CBAM duties for imported slab at EUR30-80/t based on actual emission values. But until exporters obtain the certifications – in 2027 for imports during 2026 – European re-rollers risk that the duties would be calculated based on default values resulting in substantially higher costs.

“CBAM duties for slabs looks well covered by current plate prices, taking into account price rises earlier this year. But this is based on actual values. The risk remains that the costs would be much higher based on default values,” an Italian trader said.

Offers of imported slab in Italy have been reported at $540-550/t CIF, though no transactions have been heard.

In Germany, due to lack of trading activity in the commodity grade plate segment, mills have been trying to focus on sales to projects or under long-term contracts.

“Stockists and cutting centres report a bad turnover in February. So, the mood is worsening and therewith the ex-stock prices cannot be increased and re-purchases are less,” a German distributor said.

German mills have been offering s235jr plate at EUR770-810/t ex-works and s355jr material at EUR850/t delivered.

Offers of s355jr plate from Scandinavia have been reported at EUR850/t delivered Northwest Europe. Italian mills have been offering the similar material at EUR820-830/t delivered Germany.

Offers of imported s355jr plate from South Korea, India and Brazil have been reported at EUR760-800/t DDP Antwerp, posing competition to European suppliers.