Italian rerollers have increased heavy plate offers in the week to Nov. 10 due to higher costs.
In the European coil market, prices have been bullish supporting the mood change in the plate segment.
Italian mills have been offering heavy plate at Eur750-760/mt ex-works Italy and few deals have been settled at Eur710-740/mt ex-works Italy for the first quarter delivery material.
Platts assessed domestic prices for heavy plate in South Europe up by Eur50/mt on week at Eur725/mt ex-works Italy on Nov. 10.
Although volumes traded at the higher prices have been limited as bigger buyers had settled deals earlier, the rerollers remained firm in their offers and they expect to see further price recovery.
“We drew the line, and we will not sell below certain price,” an Italy-based reroller said. “The next round of slab deals will be settled at higher prices and we have no choice.”
Platts assessed prices for imported slab in South Europe up by $20/mt on week to $600/mt CIF Italy on Nov. 10.
Offers for slab from Asia have been heard at $600/mt CIF Italy and tradable values have been reported at $600-$605/mt CIF Italy.
In Northwest Europe, German mills have been focused on deliveries under long-term and project contracts, their presence in the spot market has remained limited.
Platts assessed domestic prices for heavy plate in Northwest Europe stable on week at Eur790/mt ex-works Ruhr on Nov. 10.
Market participants estimated tradable values at Eur760-800/mt ex-works Ruhr, with majority of data reported at Eur780-800/mt ex-works Ruhr.
A German mill had sold limited volumes of plate at competitive prices in the beginning of the week, but the price was no longer available, market sources said.
Platts is part of S&P Global Commodity Insights.
Author: Maria Tanatar
