Italian rerollers have increased domestic offers for heavy plate in the week to Feb. 10 due to higher prices for imported slab from Asia.
Transaction prices have also moved up, but they remain below target prices.
Italian mills have been offering plate at Eur950-960/mt ex-works Italy while transactions have been settled at Eur880-920/mt ex-works Italy
Platts assessed domestic prices for heavy plate in South Europe up by Eur25/mt on week to Eur900/mt ex-works Italy on Feb. 10.
“Italian rerollers have consolidated position on plate pricing as they all have to deal with rising slab costs,” a reroller said.
Deals for imported slab from Asia have been heard at $720-$730/mt CIF Italy and offers – at $720-$750/mt CIF Italy. Market sources believe that the exporters will push offers closer to $750/mt CIF soon.
Platts assessed prices for imported slab in South Europe at $725/mt CIF Italy on Feb. 10, up by $5/mt on week.
Full order books of the mills have also been supporting the plate price recovery – only limited volumes for the March rolling material remained available.
Demand, in the meantime, remained moderate as restocking had ended, and smaller volumes have been traded over the week. This, however, is unlikely to harm the bullish mood that has settled in the market, source said.
A Northwest European reroller has been offering plate at Eur1,000/mt delivered in the north EU. Previously the mill had been undermining the price rise with aggressive offers, but now the cheap prices were no longer available.
One of the German steelmakers has been offering plate at Eur1,000-1,050/mt ex-works Ruhr. Other German mill has remained focused on fulfilment of long-term and project orders and had only limited offers at Eur1,100/mt ex-works Ruhr.
Platts assessed domestic prices for heavy plate in Northwest Europe at Eur1,000/mt ex-works Ruhr on Feb. 10, unchanged on week.
In Central Europe, offers of limited volumes from the Czech Republic have been heard at Eur950/mt ex-works and a Polish steelmaker has not been offering any material.
Platts is part of S&P Global Commodity Insights.
— Maria Tanatar, Benjamin Steven