European plate prices remained largely stable in the week ending Dec. 12, with market participants reporting minimal changes in import levels and only selective upward movement in domestic tradable values.
Sources described a market that is active on paper but slow to convert into firm orders as buyers shift their focus to year-end coverage and the implications of upcoming Carbon Border Adjustment Mechanism default values.
Import plate offers remained unchanged for a second consecutive week. Suppliers quoted Eur630-640/mt DDP Spain and Eur660-670/mt DDP Italy and Germany for base-grade S235/S275 material. Traders stated that while these levels are workable, actual demand is constrained by uncertainty surrounding CBAM-related cost exposure for 2025.
Domestic pricing in Southern Europe continued to reflect February delivery discussions, with S275 tradable values reported at Eur650-670/mt ex-works. In Northern Europe, service centers cited workable plate levels around Eur700/mt EXW Ruhr, although they noted that most January capacity was already placed, limiting spot negotiations.
Market sources repeatedly pointed to CBAM as the key disruptor in both plate and slab procurement. Several buyers stated that default emissions values imply additional costs of Eur140-600/mt, making large-volume imports uncompetitive unless suppliers provide verified emissions data. One European mill described the situation as “a mess for plate and slab,” adding that next year’s import viability would hinge entirely on verification, rather than price.
Slab was unchanged week over week, with tradable values heard at $500/mt CIF Italy and offers from Asian origins at $520/mt CIF Italy. Transaction volumes were minimal, as both mills and buyers awaited clarity on Q1 documentation requirements. A service center reported similar levels at $500-$510/mt CIF Italy, noting that interest in slab was “limited to essential restocking only.”
Participants across the supply chain emphasized that most buyers were already covered for January and part of February, resulting in a quieter close to the year. A trader estimated that “big tonnages below 500 mt are the only ones moving,” with larger buyers delaying decisions until the impact of CBAM verification becomes clearer.
Platts, part of S&P Global Energy, assessed domestic plate at Eur650/mt ex-works Italy, up Eur5 week over week, and at Eur705/mt EXW Ruhr, stable week over week.
Platts assessed slab at $505/mt CIF Italy, down $5 week over week.
