European heavy plate round-up: prices rise amid CBAM uncertainty and trade shifts

European heavy plate prices strengthened in the week to 24 October in line with bullish sentiment in the flat steel market driven by changes in trade restrictions and the forthcoming introduction of the carbon border adjustment mechanism (CBAM). 

Italian re-rollers have consolidated around the target price for plate of EUR650/t ex-works. Sources said that some deals have already been settled at EUR640-650/t ex-works.

Italian suppliers have not closed the December order books yet and they are expected to target further increases for January.

Although prices for imported slab have not changed the costs will rise due to implementation of CBAM from the start of 2026.

Several sources suggested that due to lack of clear guidance that would allow calculation of exact CBAM duties, some re-rollers in Italy have started to offer plate prices plus CBAM duties, instead of invoicing for effective prices.

An Italian mill representative, however, said that buyers were not keen to book material with a variable price that could significantly change and that the higher offers were targeted to cover both semi-finished, CBAM and production costs. The same source said that the price of EUR650/t will barely cover all the costs the re-rollers will face from next year.

Prices for imported slab from Asia have been heard at $510-520/t CFR Italy.

The availability of cheaper slab is likely to drop, after the EU introduced another package of sanctions against Russia. The measures now include Evraz PLC, a UK-headquartered company with core steel manufacturing and mining assets in Russia.

Evraz has been supplying slab to the EU, particularly to Czech Republic at competitive prices – around $50/t below those from Asian exporters.

In the Northwest European market, domestic heavy plate prices have been heard around EUR690/t ex-works.