Prices for domestic and imported heavy steel plate in Europe increased in the week to Thursday April 23, supported by active trading, sources told Fastmarkets.
Slab import prices to Italy stabilized during the week, having increased since the start of March, after the US/Israel attacks on Iran and its wide-ranging response across the region started the conflict in the Middle East on February 28. The conflict has disrupted global trade ever since by pushing up energy-related costs for all industries, including the steel sector and European re-rollers.
Fastmarkets’ weekly price assessment for steel slab, import, cif Italy, was $600-620 per tonne on Thursday, unchanged week on week.
Southern Europe
Deals for domestic heavy steel plate in Italy were heard at €750-790 ($877-924) per tonne ex-works, widening up from €750-780 in the week to April 16.
One producer told Fastmarkets that €750 ex-works was applicable to larger orders (of more than 1,000 tonnes), while €770-780 ex-works applied to medium-sized tonnages, all for June-July delivery.
The latest offers in Italy were reported at €800-830 per tonne ex-works on April 16, but no transactions have been confirmed at that level since then.
Fastmarkets’ weekly price assessment for steel domestic plate, 8-40mm, exw Southern Europe, was €750-790 per tonne on Thursday, widening up from €750-780 on April 16.
Import deals for steel plate from Indonesia were heard at €780-800 per tonne delivered-duty-paid (DDP) Spain, in the week to Thursday, but were not included in Fastmarkets’ CFR price assessment.
Two sources indicated that import prices were around €700-750 per tonne CFR into Southern Europe, but said that while there have been no recent offers to Italy on a CFR basis, offers were now likely to be no lower than €700 per tonne CFR to Italy.
Fastmarkets’ weekly price assessment for steel plate (8-40mm), import, cfr main port Southern Europe, was €700-750 per tonne on Thursday, up from €664-700 on April 16.
Northern Europe
In Germany, fresh deals for domestic steel plate were reported at €840-860 per tonne ex-works in the week to Thursday, up from €800-830 per tonne ex-works in the week to April 16.
One trader said that only one producer had been offering material at lower prices, while a distributor reported bids to that producer at €800-810 per tonne ex-works.
The trader said that, despite there being “no boom in orders,” buyers were still booking steel plate, while the distributor told Fastmarkets that “stockholders had considerably reduced their inventories by the end of March.”
German mills have been citing higher production costs since the escalation of tensions in the Middle East conflict pushed up energy costs.
Fastmarkets’ weekly price assessment for steel domestic plate 8-40mm, exw Northern Europe, was €840-860 per tonne on Thursday, up from €800-830 on April 16.
Steel plate import deals from Indonesia to Antwerp were reported €780-800 per tonne DDP, sources said.
In the week to April 16, Indonesia had been offering plate at €725 per tonne CFR Antwerp, but no fresh deals were heard at that level in the week to Thursday.
Sources said the latest relevant import prices into Northern Europe were around €700-750 per tonne CFR.
Fastmarkets’ weekly price assessment for steel plate (8-40mm), import, cfr main port Northern Europe, was €700-750 per tonne on Thursday, up from €700-725 a week earlier.
