Domestic prices for steel heavy plate remained stable in Northern Europe in the week to August 20 and edged up slightly in Italy, but the market was still in summer mood with muted trading activity, sources told Fastmarkets on Thursday.
Southern Europe
In Italy, S235-grade plate was mainly indicated at €690-700 ($802-814) per tonne ex-works, unchanged from the latest deals reported by mills on August 6.
A trade source said the most recent transactions were heard at €690-710 per tonne ex-works for September delivery, with one re-roller expecting prices to rise to around €720 per tonne ex-works after the summer holidays.
Higher plate offers were heard in the market at €730-740 per tonne ex-works for 800-1,000-tonne orders linked to September or early October production, sources said, but no deals were reported at these levels, as many participants were still away.
“No doubt that mills’ sales managers are trying to increase offer prices,” a second trade source said on Thursday, adding that sales managers were gradually coming back to customers with firm order proposals, so it was expected that higher offers would emerge in the market.
However, trading had not yet resumed across the region due to the traditional August slowdown, with expectations for activity to pick up in early September.
A major re-roller in northern Italy was reported to have a technical problem that “will lead to a longer stoppage of the mill,” a third trade source said.
Fastmarkets contacted the producer for official comment but had not received a response by the time of publication. Other sources could not provide comments about the expected wider market impact, but confirmed the news.
The same mill experienced technical issues that led to an unplanned stoppage in late March, with maintenance extended through May-June, a source at the producer said at the time.
Fastmarkets’ weekly price assessment for steel domestic plate 8-40mm, exw Southern Europe was €690-710 per tonne on Thursday, widening upward by €10 per tonne from €690-700 per tonne a week earlier.
Plate import offers were heard at €750 per tonne CFR from India to Spain, but no transactions were concluded.
As a result, Fastmarkets’ weekly price assessment for steel plate (8-40mm), import, cfr main port Southern Europe, was €710-750 per tonne on Thursday, unchanged week on week.
Northern Europe
Very limited domestic plate activity was heard in Northern Europe, as the market was slow and some sources could not indicate current workable levels.
One supplier indicated prices in Germany at €850 per tonne ex-works, a trade source said, while offers were reported at €850-880 per tonne ex-works, unchanged from a week ago, but for deliveries with longer lead times.
Two of Germany’s three major plate producers were reportedly booked until the end of the year with project-related orders, according to market participants.
However, they were still expected to have capacity available for regular customers, a second trade source said, noting that many buyers commit to fixed quarterly tonnages and therefore expect mills to reserve volumes for them.
The same source said that stockholders were increasing inventories due to improving consumption and were also attempting to raise prices, although trading in commodity-grade plate remained limited.
Therefore, Fastmarkets’ weekly price assessment for steel domestic plate 8-40mm, exw Northern Europe was €820-850 per tonne on Thursday, stable week on week.
Plate import offers from India were also reported to Denmark at €750 per tonne CFR but no major activity was heard during the week.
The corresponding Fastmarkets’ weekly price assessment for steel plate (8-40mm), import, cfr main port Northern Europe, was €700-750 per tonne on Thursday, unchanged week on week.
