European heavy plate prices remained largely stable in the week to 30 May, but prices face continue pressure from limited spot demand.
“There are no changes in the market, demand is slow, but there are hardly any import offers. A slight demand is there but only for small quantities,” a trader said.
Demand from spot buyers has been limited as distributors have been unwilling to build stocks. Plate producers have been selling material with higher added value to projects, but the segment mainly needs material with longer lead times and the volumes are less than those usually sold to spot buyers.
Italian re-rollers have been selling heavy plate at €620-640/t ex-works, with the majority of the deals heard at the lower end of the range.
Some market participants believe that plate prices from re-rollers would slide further due to an anticipated decrease of slab prices.
Offers of slab from Asia have been heard above $500/t CIF Italy, but the next round of the semi-finished products is expected to be settled at $480-490/t CIF Italy.
German mills have been offering plate at €670-700/t ex-works.
German heavy plate producer Dillinger idled blast furnace (BF) No. 4 at its Rogesa Roheisengesellschaft Saar plant on 21-22 May for planned repairs that should take around three months. The stoppage was followed by a fire at the furnace.
Market sources said that the accident and the stoppage had limited impact on the market despite some delays of deliveries.
Dillinger has “a big slab stocks which they can cut into needed sizes,” a German distributor said.
While Asian suppliers remained inactive in the European market, a Brazilian mill has been offering s355jr-grade plate at €640/t CFR Antwerp.
Maria Tanatar
