Italian rerollers aim for higher heavy plate prices

Italian rerollers have tried to achieve higher prices for heavy plate in the week to Nov. 3 in a more active market. Distributors have been showing increased demand due to restocking.

Italian mills have been offering plate at Eur700/mt ex-works Italy minimum, but no deals have been reported at higher prices yet. The latest transactions have settled at Eur670/mt ex-works Italy.

Platts assessed domestic prices for heavy plate in Italy stable week on week to Eur675/mt ex-works Italy Nov. 2.

The next round of slab purchases were expected to be settled at higher prices due to a rise in raw material costs. In addition, energy costs have also moved up in Italy. As a result, the mills needed to push up plate prices to cover higher costs.

“Slab prices will go up in the next round of deals, and we already have thin margins,” an Italian reroller said.

Platts assessed prices for imported slab in South Europe up by $10/mt week on week to $580/mt CIF Italy Nov. 3.

Offers of slab suitable for heavy plate rolling have been reported at $580-$600/mt CIF Italy.

Platts assessed domestic prices in Northwest Europe stable week on week at Eur790/mt ex-works Ruhr Nov. 3.

Offers have been reported at Eur800/mt ex-works Ruhr for s355jr grade plate. A mill has also been offering limited volumes of plate at Eur765/mt ex-works Ruhr.

Platts is part of S&P Global Commodity Insights.

Author: Maria Tanatar