But the Italian market was still quiet and trading limited.
Italian plate producers were maintaining their offer prices for new rolling at €650 ($667) per tonne ex-works and even higher in some cases.
Buyers, meanwhile, estimated the tradable level at €630-640 per tonne ex-works.
Very few transactions were reported within that range during the assessment week to Wednesday.
One supplier claimed to have sold a minor tonnage at €650 per tonne ex-works, but a producer source told Fastmarkets that sales below €640-650 were not possible due to costs.
Fastmarkets’ weekly price assessment for steel domestic plate, 8-40 mm, exw Southern Europe was €630-650 per tonne on Wednesday, widening up from €630-640 per tonne seven days earlier.
Some suppliers said that a second round of increases, to around €670-680 per tonne ex-works, would be needed because of the current high costs of production – including the cost of steel slab and electricity.
However, buyers were skeptical about any potential price rise.
“There is not enough demand to support [a price rise]. Even €650 [per tonne ex-works] is still hard to get,” a buyer source said.
The Italian market for imported steel plate was also quiet, Fastmarkets understands.
“Import prices are too high. Plus safeguards are currently under review, so there’s a potential risk of stricter measures as of April,” a second buyer said.
“The European market is at a standstill and shipments from Asia are [only likely to] start in end February-early March at the earliest, means arrival in April-May, which would be too risky,” the buyer added.
Steel plate from South Korea and Indonesia, meanwhile, was on offer to Italy at €570-580 per tonne CFR in the week to Wednesday, sources said.