European heavy plate round-up: prices down on weak demand

European heavy plate prices dropped in the week to 20 June as pressure by mills to fill their order books met with limited demand.

Italian re-rollers have been trading heavy plate at EUR590-610/t ex-works, down by around EUR10/t on week.

European mills still have been offering July delivery material, sources said.

“Heavy plate moved down on low demand, but there is at least less pressure from import compared to other products,” a mill source said.

Some market participants believe that there is room for further price decrease, judging from the costs of imported slab and exchange rates.

“There is no pressure from import plate, but demand is low. I believe re-rollers have space to decrease the prices to secure deals,” a trader said.

Slab offers from China have been reported at $500/t CFR Italy, and exporters were ready to give discounts of around $10/t.

Slab from Indonesia has been offered at $480/t CFR Italy, but the material was not suitable for heavy plate rolling, sources said.

In Northwest Europe, heavy plate prices also moved down amid weak demand. Although some integrated mills are still benefitting from supply to projects under long-term contracts, demand from those segments has also started to dry out.

Prices are moving down “due to complete lack of business, windmill projects were frozen,” another steelmaker said.

A deal for s235jr plate from a Northwest European re-roller has been heard at EUR650/t delivered Germany.

German mills continued to offer s355jr plate at prices close to EUR700/t delivered or at EUR670-680/t ex-works for s235jr material.

Italian re-rollers have been offering plate at EUR660/t delivered Germany.

A Central European re-roller offered the material at the equivalent of EUR655-680/t delivered Germany for s355jr grade.

Weekly European Heavy Plate, Slab and Green Steel Prices

Maria Tanatar, Benjamin Steven

opisnet.com