Trading activity in the Italian market was dull, with mainly hand-to-mouth bookings reported in the past week.
Achievable prices for commodity-grade steel heavy plate in Italy were estimated by buyers at €630-650 ($716-739) per tonne ex-works, against offers at €660-670 per tonne for April-May rolling.
Deals were reported at €640-650 per tonne ex-works.
Some mills were mulling higher prices for May-June rolling, around €680-700 per tonne ex-works, but buyers said that such prices were only possible for project business and were “totally unachievable” in spot sales.
The price of slab feedstock for plate production was stable around $500-520 per tonne CIF, with no grounds to raise plate prices, and unsupportive demand, a buyers source said.
As a result, Fastmarkets’ weekly price assessment for steel domestic plate, 8-40mm, exw Southern Europe, on Wednesday was €640-650 per tonne, unchanged since mid-February.
June-shipment heavy plate from Asia was offered to Italy at €580-590 per tonne CFR.
An offer of s355 heavy plate from India was available at $680 per tonne FCA at Antwerp. This price was, however, deemed too high by European buyers.
Market sources also said that there were fewer offers of commodity grade heavy plate offers from South Korea, after new safeguards were announced. South Korean suppliers were heard to be focusing on premium plate deliveries for use in making wind-towers.
Northern Europe
In Northern Europe, the situation was similar, with traded volumes in the spot market being low, market sources said.
One German producer, which traditionally focuses on project business, was offering heavy steel plate with lead times around six weeks at €750-790 per tonne ex-works. But this price was not considered workable for the spot market.
Another German supplier maintained its offer price for steel plate at €690-720 per tonne ex-works from one location, and at €680-700 from another.
Buyer sources estimated achievable prices for commodity grade heavy plate, such as s235 and s275, in the range of €680-690 per tonne, even from suppliers which normally sought higher prices.
As a result, Fastmarkets’ weekly price assessment for steel domestic plate, 8-40mm, exw Northern Europe, was €680-700 per tonne on Wednesday, stable week on week.
