Italy
Steel heavy plate prices in Italy narrowed down in the week to Wednesday, with the market “under [downward] pressure,” according to market participants.
Fastmarkets’ weekly price assessment for steel domestic plate, 8-40mm, exw Southern Europe on Wednesday was €630-640 ($706-717) per tonne, down from €630-650 per tonne on May 7.
One source said that buyers have been targeting lower prices, but another said larger volumes were being offered at significant discounts.
The second source told Fastmarkets there was concern about the upcoming summer slowdown in consruction activity.
But Italian plate was on offer in southern Germany at €700-720 per tonne delivered, Fastmarkets understands.
Imports from Asia to southern Europe, meanwhile, remained flat in the week to Wednesday.
Northern Europe
In Northern Europe, domestic commodity-grade steel heavy plate prices remained stable after widening down last week.
Fastmarkets’ weekly price assessment for steel domestic plate, 8-40mm, exw Northern Europe was unchanged at €670-700 per tonne on Wednesday.
Pricing pressure on German mills has been less severe than in Italy, largely due to several “’big projects,” sources said, with consistent support from end-user demand.
