Northwest European heavy plate stockholders are still bemoaning the lack of demand and business activity, with a rebound not anticipated in the autumn following the summer holidays.
Price hikes attempted one month ago, from at least one northern mill along with several Italian mills, have not been accepted so far. “It probably went up in smoke, like the one [hike attempt] in May, when the downward trend was still in full swing,” one German manager tells Kallanish.
Prices at least seem to have remained stable at the floor they reached at end-July, which would be around €670/tonne ($784) for S355 delivered from domestic European mills. Some mills are confident enough to offer elevated rates, with one German mill, for example, providing quotes “starting with a big bold 7”, a source says.
The deterioration in plate prices in the first half year was not perceived as dramatic as the price collapse for coil. According to the source, ”plate makers seem to have had a better grip on their capacity management”.
Imports do not seem to be attracting buyers or scaring mills. “I spoke with a mill today, and everyone is expecting import orders to fade out going forward, with CBAM at the doorstep,” one buyer says, who is in general not a friend of importing. “An order from India scheduled for three months ahead can easily take four months; whereas from domestic mills, you often get the delivery earlier than expected,” he adds.
Christian Koehl Germany
