Market participants also expressed concern about the future effects of US import tariffs on the European steel markets with trade negotiations continuing.
Italy
Steel heavy plate prices fell in the latest pricing session, with the market “under pressure from low demand” and limited buying, market sources said.
Fastmarkets’ weekly price assessment for steel domestic plate, 8-40mm, exw Southern Europe, was €620-630 ($703-714) per tonne on Wednesday, down by €10 from €630-640 per tonne on May 14.
“Some Italian re-rollers have lead times as short as just 10 days [because] they need to fill order books,” a trader source said.
Deals were reported at €620-630 per tonne.
New import orders into Southern Europe have been “minimal” due to high stocks of both domestic and imported plate, available at low prices with short delivery times.
Northern Europe
In Northern Europe, the domestic commodity-grade steel heavy plate market widened downward, despite plate mills targeting higher prices, trade sources said.
A German mill was heard selling plate at €700 per tonne from one location and at €670 per tonne from another.
Fastmarkets’ weekly price assessment for steel domestic plate, 8-40mm, exw Northern Europe, was €660-700 per tonne on Wednesday, widening downward by €10 per tonne from €670-700 per tonne a week earlier.
“Customers are still only purchasing what they urgently need to continue their ‘commodity grade’ business model,” a second trade source said.
Headded that more consistent business was seen in other speciality sectors of the steel plate industry – for example, in products used for offshore foundations or monopiles for offshore windfarms, with the delivery times for such speciality products having been extended.
