Heavy steel plate prices in Europe widened downward in the week to Thursday July 3, amid persistently sluggish trading and weak demand.
Italy
Italian commodity-grade plate prices were under pressure over the past seven days, with many market participants estimating prices to be either stable or slightly lower, with mills looking to attract bookings amid a weak demand environment.
“Demand has not improved,” one trader source said.
Fastmarkets’ weekly price assessment for steel domestic plate, 8-40mm, exw Southern Europe, was €590-620 ($693-728) per tonne on Thursday, widening downward by €10 per tonne from €600-620 per tonne a week before.
Stockholders and end-users have only been buying on a hand-to-mouth basis, a second market source said.
And there was still no interest in imported material because there were sufficient stocks at low prices and short delivery times available.
Northern Europe
In Northern Europe’s heavy plate market, prices also widened downward amid slow trading for commodity-grades.
“Customers and end-users are still only purchasing what they absolutely urgently need,” the second source said.
Fastmarkets’ weekly price assessment for steel domestic plate, 8-40mm, exw Northern Europe, was €640-675 per tonne on Thursday, widening downward by €10 per tonne from €650-675 per tonne a week earlier.
Market participants noted that the only consistent demand has been for specialist plate grades, including those used in foundations for offshore wind-power installations or monopiles.
