Italian re-rollers have been targeting higher prices for heavy plate prices in the week to July 7, after large distributors had restocked earlier this month.
“Italian buyers booked significant volumes, and now the mills have sold out July and majority of August rolling plate,” an Italian source said.
Platts assessed domestic heavy plate prices for heavy plate in South Europe up Eur15/mt on the week to Eur760/mt ex-works on July 7.
Delas have been reported at Eur750-770/mt ex-works Italy and offers have been heard at Eur770-780/mt ex-works Italy.
Market sources believe that the Italian re-rollers will target to reach Eur800/mt ex-works Italy or higher in the next round of deals.
In Northwest Europe, German mills continued to focus on long-term contracts and project supplies and they had limited volumes of plate to offer in the spot market.
Platts assessed domestic prices for heavy plate in Northwest Europe at Eur860/mt ex-works Ruhr on July 7, up Eur15/mt on the week.
Limited volumes of heavy plate from German mills have been offered at Eur860-880/mt ex-works Ruhr.
Author Maria Tanatar