Italian plate prices flatten, outlook positive

The Italian and European plate markets are seen remaining dynamic “in the long term” as demand continues to be sustained despite moments of quiet in individual markets, Kallanish learns from sellers and buyers.

Italian transaction prices remain flat compared to the beginning of the month. Demand is now at average levels after a strong January and February. Sellers report a positive first quarter, with results in line with last year, and foresee a positive first half-year. However, they may not achieve the record results of 2022 as the Ukraine war outbreak caused prices to balloon in H1 last year.

Plate re-rollers are quoting €950-960/tonne ($1,033-1,044) for the basic S275 grade and €1,010/t for the higher 355 grade. Lead times remain at end-April, or May for some steelmakers. Domestic contracts are flat at €920-950/t ex-works for S275 and €980-1,000/t for 355.

Over the coming weeks, prices are seen increasing because of the current global slab shortage, which is pushing up values. Producers see European demand this year being driven by future infrastructure projects financed by the European recovery fund, which are expected to start in the second half of 2023, particularly the pipeline of wind power projects.

Asian-origin slab is being bought at $780-800/t cfr Italy, sources suggest.

Natalia Capra France