Italian re-rollers have been aiming for higher prices for heavy plate and achieved some increase in transactions in the week to Nov. 17 due to rising production costs.
Demand in the meantime has decreased as distributors had already booked required volumes earlier this month.
“Expected slab price rise is the main reason the re-rollers have had to push for higher plate prices,” an Italian re-roller said.
Offers of slab from Asia were heard at $620/mt CIF Italy and buyers’ price indications were at $600/mt CIF Italy.
Platts assessed prices for imported slab in South Europe up $10/mt on the week at $610/mt CIF Italy Nov. 17.
European re-rollers were expected to settle the next round of the semi-finished product purchases by the end of November.
Offers of heavy plate were reported at Eur730-750/mt ex-works Italy and the latest transactions in the domestic market were at Eur730/mt ex-works Italy. Although the mills were still able to give discounts selling to other European countries.
Platts assessed domestic prices for heavy plate in South Europe up Eur5/mt on the week at Eur730/mt ex-works Italy Nov. 17.
In Northwest Europe, German mills have been focused on deliveries under long-term and project contracts, and their presence in the spot market has been limited.
Platts assessed domestic prices for heavy plate in Northwest Europe up Eur10/mt on the week at Eur800/mt ex-works Ruhr Nov. 17.
Both tradable values and the lower end of offers were reported at Eur800/mt ex-works Ruhr.
Platts is part of S&P Global Commodity Insights.
Author: Maria Tanatar
