Italian heavy plate prices are stable compared to May with uncertain demand and a slow market, Kallanish hears.
Producers, however, are confident that prices will continue to increase in the coming months, particularly when the new trade measures are implemented next month.
Imports of plate will fall from 2.2 million tonnes/year to about 1.3mt/y from July which will inevitably boost European sales, sources believe. Import prices are not disrupting the market at present.
Material already at port is offered at €770/tonne ($897.3/t) ex-works for S275 grade and €790/t for S355 which is not particularly attractive for buyers, as Italian mills offer similar prices. No imported material is expected in the short term.
Thanks to stronger EU protection measures, mills are reporting acceptable results in the first four months of the year and expect 2026 to be a relatively good year overall, supported by protectionism and ongoing infrastructure projects funded by the post-Covid European recovery fund.
Slab prices, however, continue to climb, partly driven by CBAM charges, with Asian slab prices reaching $600/t cfr Italy and above, sources say.
Mills have filled or almost filled July order books and are quoting €800/t base ex-works for S275 grade. Current contracts for S275 remain at €760-780/t base ex-works.
Meanwhile, prices for plate in northwestern Europe have not moved noticeably for weeks. Following the general steel price surge since last autumn, some mills had to take back targets they gave April of above €850/t ex-works for S355 grade. Observers in Germany and Benelux, buyers as well as mills, see S355 in a range of €800-850/t delivered, and they see concessions made at the higher end (see Kallanish 2 June).
