Italian plate sellers see some more demand

Italian plate producers have noticed some return of demand over the past ten days following a long period of quiet and low sales. Distributors and service centres have implemented some purchases, but sales volumes remain limited due to very short visibility.

“We see some more interest from buyers at stable on-week prices on the domestic and export market,” a mill source says. He expects the restocking to intensify in October. Mills and distributors tell Kallanish that stronger demand continues to be reported for S355 grade compared to S275. On average, S275 has slightly declined compared to mid-September and reached €700-730/tonne ($735-767) ex-works, while S355 is being transacted at €740-750/t.

Given the more dynamic market since the last days of September, several sources seem more optimistic for October despite the general uncertainty and low visibility. They forecast values to remain stable this month, with some mild fluctuations.

Imported Asia-origin slab contracts in Italy are rumoured to have been done at $580-600/t cfr, mostly stable compared to mid-September.

Natalia Capra France