Steel heavy plate prices flatten across Europe amid slow trading

Trading in the European heavy plate market was halted by a traditional summer lull, with prices unchanged, Fastmarkets heard on Wednesday August 2.

The Italian market was quiet due to traditional summer stoppages in August.

Trades were rare, with most buyers and suppliers out of the market.

Tradeable values for bigger lots of September-delivery plate were reported by buyers and sellers at €750-760 ($824-834) per tonne EXW in the week to Wednesday, and at €770-780 per tonne EXW for volumes under 500 tonnes, which is flat from the preceding week.

Local producers were hoping to achieve higher prices after summer stoppages, with a target level of €800 per tonne EXW.

As a result, Fastmarkets’ weekly price assessment for steel domestic plate, 8-40mm, exw Southern Europe was €750-780 per tonne on Wednesday, stable over the past week.

Industry sources that spoke to Fastmarkets expect quiet market conditions and flat prices during the entire month of August due to seasonally slow demand and summer maintenance closures at producers.

“The demand [for plate] is going to be sluggish for the whole August, there will be no real movement in the market,” a source in Italy said.

Northern Europe
Fastmarkets’ weekly price assessment for steel domestic plate, 8-40mm, exw Northern Europe was €850-870 per tonne on Wednesday, also flat week on week.

The assessment was based on offers from the mills in the region and buyer’s estimates of tradeable values.

The plate market in the region was also seasonally slow, with little trading reported.

One source, however, reported quite aggressive offers for S355 grade plate from a re-roller to Germany at €820 per tonne CPT. This however, was not widely confirmed by other market participants. They suggested that such levels were available for large volumes, over 1,000 tonnes.

Commodity grade plate from Italy was on offer to Germany at €830-850 per tonne CPT.

In Central Europe, sources said a Polish producer was offering limited tonnages of plate at around €820 per tonne CPT. An integrated mill from Romania was offering plate to Central Europe at €800 per tonne CPT.

Published by: Julia Bolotova