Local prices for steel heavy plate increased slightly in Northern Europe in the week to Thursday July 16, but edged down in Italy as mills rushed to secure orders ahead of the summer holiday period, market sources told Fastmarkets on Thursday.
Italy
Recent transactions for steel plate in Italy were heard at €700-730 ($803-837) per tonne ex-works, down from €710-735 per tonne ex-works a week earlier.
The lowest level, €700 per tonne ex-works, was linked to higher-tonnage orders. One trader argued that this was below current market levels, saying that “after hard negotiations and for normal order volumes, with relatively prompt payment terms, it is still possible to agree a final price of about €710-712 per tonne ex-works with an Italian mill.”
But an Italian producer said that, given lower slab offers, some competitors had already “confirmed plate at minimum levels close to €700 base [per tonne] ex-works.”
The same source said their company was offering base plate at €720-730 per tonne ex-works, but that workable levels for larger tonnages were “definitely closer to €700 per tonne ex-works.” September delivery was said to be the prevailing lead time.
Offers for plate were heard at €715-750 per tonne ex-works during the week, widening from €720-740 per tonne ex-works on July 9. The highest offer, at €750 per tonne ex-works, came from a producer who claimed prices were increasing, though other market participants did not support that view.
A second trader said August buying was effectively finished and that “appetite for orders is not as strong as it was a few days ago.”
Fastmarkets’ weekly price assessment for steel domestic plate 8-40mm, exw Southern Europe was €700-730 per tonne on Thursday, down from €710-735 per tonne a week earlier.
Meanwhile, offers for imported steel slab into Italy remained broadly stable, with Asia-origin material quoted at $570-590 per tonne CIF during the week, unchanged from July 9.
A buyer source said workable levels were around $570 per tonne CIF, citing offers from various suppliers in Asia and potentially Turkey.
Fastmarkets’ weekly price assessment for steel slab, import, cif Italy, was $570-590 per tonne on July 16, unchanged week on week.
Northern Europe
In Germany, plate producers were heard offering material at €800-830 per tonne ex-works during the week.
Sources said mills had little incentive to offer below €800 per tonne ex-works because they had secured some sizeable project orders, though spot-market activity remained limited.
Fastmarkets’ weekly price assessment for steel domestic plate 8-40mm, exw Northern Europe, was €800-830 per tonne on Thursday, narrowing upward from €780-830 per tonne a week earlier.
