European steelmakers have been aiming to achieve higher prices for heavy plate in the week to Dec. 8, although demand remained muted.
Although projects have been showing healthy demand for plate, big distributors have been avoiding purchases of larger tonnages as they had already restocked when plate prices were lower in the first half of the fourth quarter.
“Plates are not really moving on real deals in respect to the previous week, despite the fact that re-rollers are targeting higher prices,” an Italian trader said. “Big stock holders have already restocked.”
While other sources also confirmed that traded volumes have decreased, the cheapest material has disappeared from the market as Italian re-rollers need to cover high slab prices.
Platts assessed domestic prices for heavy plate in South Europe up by Eur15/mt on week to Eur750/mt ex-works Italy Dec. 8.
Deals and tradable values have been heard at Eur730-750/mt ex-works Italy.
Platts assessed prices for import slab in South Europe stable on the week at $635/mt CIF Italy Dec. 8.
The assessment was based on latest deals settled at $630-$640/mt CIF Italy for the material from Asia.
In Northwest Europe, plate prices also moved up although German steelmakers have remained largely focused on long-term contracts supply.
Platts assessed domestic prices for heavy plate in Northwest Europe up Eur30/mt on the week to Eur830/mt ex-works Ruhr Dec. 8.
Offers have been reported at Eur840-850/mt delivered Germany.
Author Maria Tanatar
