The Italian market was quiet during the week, with a holiday-related slowdown in activity adding to already sluggish demand, sources added.
Offers for May rolling plate were reported at €660-670 ($752-763) per tonne.
Industry sources, however, said they felt that such prices were too high for the spot market and were only possible for project business at the moment.
Transactions for commodity-grade steel heavy plate in Italy have been reported at no higher €630-650 per tonne ex-works, with some sources even reporting sales at €620 per tonne ex-works.
Fastmarkets’ weekly price assessment for steel domestic plate, 8-40mm, exw Southern Europe, was unchanged on Wednesday at €630-650 per tonne.
Sources were not optimistic about future prices trend, considering the approaching summer holidays, when activity is traditionally slower, and with stable-to-lower prices for steel slab – a key feedstock for plate production.
“Considering the slab price is around $500 [per tonne] CIF, and [with the] summer slowdown on the horizon, there is no room for heavy plate price to increase,” a source in Italy said.
The only supportive factor for the market could be limited import availability amid stronger trade measures. But sources suggested the effect only would be visible in longer run.
“There are still considerable stocks of imported plate in ports available at prices around €20-30 per tonne lower than local material and with short delivery times,” a second source said.
