European steel heavy plate prices declined in the week to Thursday June 11, driven by weak demand and sufficient stocks, sources told Fastmarkets.
Southern Europe
Offers for steel base-grade plate were heard at €720-760 ($833-879) per tonne ex-works during the week, slightly lower than the latest tradable prices at €730-750 heard on June 4.
The range at €720-730 per tonne ex-works was linked to higher-volume deliveries for July-August, while offers at €740-760 per tonne ex-works were linked to smaller tonnages, sources said.
“Plate producers in Northern and Southern EU [are] searching for orders in the third quarter, as demand is continuously shrinking,” a trader source said on June 9, adding that this has caused declining prices in the range of €10-20 per tonne.
The same source said re-rollers in Southern Europe have faced “even more difficult times as demand also disappeared and slab prices are difficult to crack,” adding that there were still sufficient quantities in local “port stocks” at somewhat reasonable prices available.
Fastmarkets’ weekly price assessment for steel domestic plate 8-40mm, exw Southern Europe, was €720-740 per tonne on Thursday, down from €730-750 per tonne a week earlier.
One producer source indicated plate import prices into Southern Europe at €720-730 per tonne CFR, without any additional duties.
Higher offers were, meanwhile, heard at €740-775 per tonne CFR from Asia, including Carbon Border Adjustment Mechanism (CBAM) costs, which were not considered in the assessment, covering base prices.
The highest import offer was heard at €780-800 per tonne DDP but was not included in the CFR assessment. All offer levels were not getting buying interest, market sources said.
Fastmarkets’ weekly price assessment for steel plate (8-40mm), import, cfr main port Southern Europe, was €700-750 per tonne on Thursday, unchanged since April 16.
Northern Europe
Offers for steel plate in Germany were heard at €790-850 per tonne ex-works, slightly lower than offers in the range of €800-850 per tonne ex-works on June 4.
Indications were reported at higher levels, reaching €830-880 per tonne ex-works, but the range at €840-880 per tonne ex-works was linked mainly to long-term contract prices, sources said, so it was not considered in the assessment.
“There is only minimum demand, in addition, the Middle East war keeps investors at the sideline,” a trader told Fastmarkets.
Fastmarkets’ weekly price assessment for steel domestic plate 8-40mm, exw Northern Europe, was €790-840 per tonne on Thursday, widening downward from €800-850 per tonne a week earlier.
An offer for plate imports was reported at €800 per tonne FCA Antwerp for S355-grade, including CBAM costs, but was not attracting any interest, sources said.
This offer was not considered in the assessment, as it was outside the specifications outlined in Fastmarkets’ methodology.
Fastmarkets’ weekly price assessment for steel plate (8-40mm), import, cfr main port Northern Europe, was €700-750 per tonne on Thursday, unchanged from April 16.
