Italian plate prices skyrocket as mills await slab

Italian plate prices have continued to escalate in recent contracts, in line with increasing slab values and energy costs. Producers are seeking strong increases for new orders but some are still not quoting, sources tell Kallanish.

Some mills are delaying orders due to disrupted slab procurement. They are waiting to receive slab bought in March mostly from the Far East. While before the Russia-Ukraine war they were quoting May lead times, delivery times now stretch well into the third quarter.

Demand throughout Europe for S235, the very basic grade, and premium 355 grade is strong, and apparent demand has rebounded in the Italian market with distributors and end-users restocking.

Domestic plate contracts have increased some €200/tonne ($220/t) compared to last week and are hovering at €1,500-1,650/t for S235, with €50/t added for the premium 355 grade, sources suggest.

Some producers are now quoting at €2,000/t ex-works for the basic 235 grade, Kallanish hears. Distributors are buying and selling sizeable volumes at high prices, and reporting a high turnover.

Natalia Capra France