Domestic prices for steel heavy plate in Italy narrowed upward week on week, while mills were targeting higher levels for November delivery due to rising energy and slab prices, sources told Fastmarkets in the week to Thursday September 24. Meanwhile, the Northern Europe market was mostly stable despite mills’ ambitions to achieve higher levels.
Southern Europe
In Italy, re-rollers were heard selling base-grade plate at €740-750 ($842-853) per tonne ex-works for October-early November delivery, while targeting higher levels of €760-780 per tonne ex-works for November deliveries, sources said during the week.
One trade source said that workable levels were still within €730-750 per tonne ex-works, but the lowest price of the range was not supported by other participants. This range was in line with previous deals reported on September 17.
Prices above €750 per tonne ex-works were reported achievable mainly for project-related deals, the same source said.
They added that customers were slowly accepting price increases in the market, as demand remained moderate. At the same time, mills were under pressure due to higher production costs, such as rising energy and slab prices.
A producer said that the energy inflation was “adding up to €20 per tonne to costs of production” in the third and fourth quarter of the year, compared to the June-July period.
However, a second trade source did not support this narrative. “I know nothing about increases, just [the] opposite, mills are earning a very nice profit, despite gas price increases or higher slab prices,” the source said on Wednesday.
As a result, Fastmarkets’ weekly price assessment for steel domestic plate 8-40mm, exw Southern Europe was €740-750 per tonne on September 24, narrowed up by €10 per tonne from €730-750 per tonne a week earlier.
Meanwhile, latest offers for Asian slab were mainly reported within the range of $580-590 per tonne cost, insurance and freight (CIF), with prices from China being closer to $590 per tonne CIF and with earlier possible shipment in December, sources said.
They added that material with earlier delivery was already sold out in the market, so these prices were included in the assessment, despite Fastmarkets’ methodology delivery window of 8-10 weeks.
Some higher offers from China were heard at $600 per tonne CIF and above, a buyer told Fastmarkets, but other sources did not confirm these levels yet.
And a lower offer was reported from Southeast Asia to the port of Ravenna at $575 per tonne CIF, but details and specifications were unclear so it was not considered in the final assessment.
Fastmarkets’ weekly price assessment for steel slab import, cif Italy was $580-590 per tonne on Thursday, narrowed up by $10 per tonne from $570-580 per tonne a week earlier.
Fresh offers for plate imports from Indonesia to Spain were reported at $790 per tonne delivered duty paid (DDP) for arrival in the first quarter of 2027, but no new information was reported on a cost and freight (CFR) basis.
Thus, Fastmarkets’ weekly price assessment for steel plate (8-40mm), import, cfr main port Southern Europe, was €710-750 per tonne on Thursday, stable week on week.
Northern Europe
In Germany, mills were heard offering plate within the range of €850-900 per tonne ex-works, with latest deals reported around €850 per tonne ex-works, sources said.
A trade source said that levels as high as €900 per tonne ex-works did not attract buying interest and that they expected no commodities to be bought at such price.
Thus, Fastmarkets’ latest weekly price assessment for steel domestic plate 8-40mm, exw Northern Europe was €850-880 per tonne on September 24, unchanged from the previous week.
The import offers for plate from Indonesia at $790 per tonne DDP were also reported to Antwerp, while a trade source said the actual offers to the market were above €800 per tonne free carrier (FCA) Antwerp. However, no fresh activity was reported on a CFR basis.
Fastmarkets’ weekly price assessment for steel plate (8-40mm), import, cfr main port Northern Europe, was €710-750 per tonne on Thursday, stable week on week.
