Steel plate prices rose in Italy in the week to Wednesday August 31 on a partial recovery in buying activity, market sources told Fastmarkets.
Trading activity in Italy started to recover in the past week, with buyers seen coming back to the market to restock.
In addition, buyers said they anticipated further price increases given surging energy prices in the country.
Electricity prices in Italy averaged around €400 ($399) per MWh in July, up from about €271 per MWh in the preceding month and up sharply from €103 per MWh in July 2021, according to local energy service company Gestore dei Mercati Energetici.
During the week to Wednesday, several plate bookings were reported between €950-1,000 per tonne exw in the nation. But sources said that higher price end is more representative for smaller volumes.
Sources added that large stockholders were still holding back from trading, while smaller companies have returned to the market this week.
“Large stockholders are trying to lift [plate] prices for end users as well. If they succeed, they’ll come back for plate purchases,” a mill source said.
Plate offers from the local producers were reported at €1,000-1,050 per tonne exw for October-November volumes.
As a result, Fastmarkets’ price assessment for steel domestic plate, 8-40mm, exw Southern Europe, was €950-1,000 per tonne on Wednesday, up by €20-30 per tonne from €930-970 per tonne exw seven days earlier.
Trading activity in the Northern European steel plate market remained slow in the seven days to Wednesday, with prices seen by market sources as mainly unchanged.
An offer from integrated mill in the region was reported at €1,100-1,150 per tonne exw.
One trading source in the region, however, said that producers could accept lower prices – €1,050 per tonne exw – for larger volumes. This, however, could not be widely confirmed by other sources.
A re-roller from Belgium was offering plate to the market at €1,100 per tonne exw and a booking at this level was reported late last week.
Fastmarkets’ weekly price assessment for steel domestic plate, 8-40mm, exw Northern Europe, was at €1,100-1,150 per tonne on Wednesday, widening from €1,120-1,140 per tonne on August 24.
Poland-origin plate was offered to the south of Germany at €985-1,000 per tonne cpt, late last week, however, sources said that the mill was now targeting at least €100 per tonne higher prices due to surging energy costs.
Published by: Julia Bolotova