European heavy plate prices largely unchanged amid limited trading
Italy
In Italy, offers for S275 heavy plate were reported by buyers and sellers at €660-670 ($695-706) per tonne ex-works, while transaction were heard at lower levels of €640-650 per tonne ex-works, Fastmarkets heard.
Traded volumes were still limited because buyers were monitoring the market, awaiting clarity on the safeguard measures.
Some suppliers were heard to be accepting €630 per tonne ex-works for bigger volumes, market sources said.
But most re-rollers in the region agreed that lower prices were no longer possible due to the mounting costs of production – notably, higher prices for imports of slab, the feedstock for plate production.
“Considering slab prices of $500-520 [per tonne] CIF, €650 per tonne ex-works for heavy plate is not a luxury, but necessary to break even,” a mill source told Fastmarkets.
As a result, Fastmarkets’ weekly price assessment for steel domestic plate, 8-40mm, exw Southern Europe, was unchanged on Wednesday at €640-650 per tonne.
The latest weekly price assessment for steel slab, import, cif Italy, increased to $490-530 per tonne on February 28, from $480-520 per tonne on February 21.
Revised European safeguard measures were expected to come into force in April, with tougher measures widely expected, and this was tempering buying interest in overseas material, market sources said.
Nonetheless, bookings of May-shipment heavy plate from Indonesia to Spain and Italy were reported in late February at €570-580 per tonne CFR.
Northern Europe
Fastmarkets’ weekly price assessment for steel domestic plate, 8-40mm, exw Northern Europe, was €690-700 per tonne on Wednesday, narrowing upward by €10 per tonne from €680-700 per tonne seven days before.
In Northern Europe, trading activity in the spot market remained limited, market sources said. Stockholders had sufficient material in stock and were not under pressure, Fastmarkets understands.
One German mill, traditionally focused on project business, was offering heavy plate with lead times of around six weeks at €750-790 per tonne ex-works.
Another German supplier was offering plate at €700-730 per tonne from one location and €680-700 per tonne from another.
Estimates of tradeable values from buyers were reported at €680-700 per tonne ex-works, with most indications coming in at €690-700 per tonne ex-works.
A re-roller in the Czech Republic was offering S275-grade plate at €670 per tonne ex-works, but mainly to locations in Central Europe. Achievable prices for such material were reported at €650-660 per tonne ex-works. The mill was well-booked and was already offering for delivery in May.
European heavy plate prices steady, supported by uptick in buying
Italy
Trading in the Italian market started to pick up over the past week, in contrast to the low levels seen through January.
“Buyers are booking March-rolling plate and order books are slowly filling up,” a supplier told Fastmarkets.
And a second supplier said: “Everyone is finally [accepting] that there is no point postponing [plate] bookings – prices are not going to drop.”
Offers for s275 heavy plate were reported by buyers and sellers at €660-670 ($690-701) per tonne ex-works.
Sources put the tradable leval at around €640-650 per tonne ex-works on Wednesday.
Buyers were less optimistic, and said that while activity has improved compared with “complete nil” in January, overall demand is not booming.
“Mills have great expectations about safeguards updates [to the safeguard measures review and potential quota cuts] and therefore expect lower import availability in the second quarter,” one buyer source said.
Bids from stockholders for tonnages above 1,500 tonnes came in at €630-640 per tonne ex-works, sources said.
And Fastmarkets’ weekly price assessment for steel domestic plate 8-40mm, exw Southern Europe remained unchanged at €640-650 per tonne on Wednesday.
A review of European safeguard measures is expected to come into force in April, with tougher measures widely expected, which was tempering buying interest in overseas material, sources said.
Offers of April shipment plate to Italy from South Korea and Indonesia were heard at €580-590 per tonne CFR in the week to Wednesday.
Northern Europe
In Northern Europe, meanwhile, trading in the spot market also started to pick up slightly, although the overall traded volumes remained low, sources said.
“There has been some limited restocking and we have seen more activity [than in] January,” a mill source said.
One German producer, which traditionally focuses on project business, was offering heavy steel plate with lead times of around six weeks at €750-790 per tonne ex-works. But this level was not considered workable for the spot market.
A second German supplier kept its offer price for steel plate at €690-730 per tonne from one location on Wednesday, and at €680-700 from another – both unchanged week on week.
Buyer estimates of the workable level came in at €680-700 per tonne ex-works in the week to Wednesday.
Fastmarkets’ weekly price assessment for steel domestic plate 8-40 mm, exw Northern Europe was unchanged at €680-700 per tonne on Wednesday.
European heavy steel plate market restarts on quiet note; prices hold
In Italy, the market restarted on a quite note after winter holiday stoppages, sources said.
“The past two weeks the market was on pause. We’ve just came back from holidays, and so did the customers,” a mill source in Italy told Fastmarkets. “The real negotiations [for plate sales] are only about to start.”
Italian plate producers were trying to increase prices for new rolling and were targeting offers of €650 ($671) per tonne ex-works for first-quarter production.
Buyer sources estimated tradeable values at €630-640 per tonne ex-works in the week to Wednesday, while mill sources claimed that €640-650 per tonne ex-works was “the minimal level that were ready to sell at, considering high input costs,” Fastmarkets heard.
As a result, Fastmarkets’ weekly price assessment for steel domestic plate, 8-40mm, exw Southern Europe was €630-640 per tonne on Wednesday, unchanged since December 18, 2024.
“Even the most aggressive suppliers [of plate] were seeking higher prices, because of the high costs of slab and electricity,” a buyer source said.
In Italy, electricity prices in January were around €138 per MWh, up from a monthly average of €135 per MWh in December 2024 and €130 per MWh in November 2024, according to Italy’s exchange for electricity and natural gas spot trading, Gestore Mercati Energetici (GME). In January 2024, electricity prices in Italy averaged €99 per MWh.
Slab, the key feedstock for plate production, was offered to Italy in a range of $505-530 per tonne CFR from Southeast Asia and China.
Fastmarkets’ weekly price assessment for steel slab import, cfr Italy was $480-530 per tonne on January 3.
In the week commencing January 6, sources reported no fresh offers from Russian suppliers, which usually represent the lower end of the price range.
Northern Europe
Trading in the spot plate market in Northern Europe was also slow, and industry sources expect more clarity in the coming weeks, when more customers return to the market after a holiday break.
“The market has not fully restarted yet. We expect no major changes until end-January,” a German buyer said.
“The market is as sleepy as before the holidays,” a second buyer said.
As a result, Fastmarkets’ weekly price assessment for steel domestic plate, 8-40mm, exw Northern Europe was €650-680 per tonne on Wednesday, unchanged since December 4, 2024.
Buyer estimates of the achievable price for commodity-grade heavy plate were heard at €650-660 per tonne ex-works against the offers of €670-680 per tonne ex-works from German suppliers.
A re-roller in the Czech Republic was offering S275 grade plate at €670 per tonne ex-works, but mainly to locations in Central Europe, compared to €630-650 per tonne before the winter holidays.
Bulgarian producers were aiming for €670-680 per tonne ex-works for the same material, compared to €650 per tonne ex-works last month.
Italian plate producers push up prices
Italian heavy plate prices are on the rise, driven by a resurgence in domestic demand and producers’ price hike attempts in order to restore margins, Kallanish notes.
The market is showing signs of increased activity, as reported by mills; however, distributor sources indicate that weak activity persists downstream. Given the current environment of tight margins and insufficient profitability, there is a request for a €30/tonne ($31.7) increase for deliveries scheduled in December. One mill has plans to raise prices further for deliveries scheduled in January and February.
Producers are indicating a lead time of approximately two weeks. It appears large customers have not resumed their purchasing activities, having acquired substantial quantities from the import market in recent weeks. Distributors are still purchasing limited quantities from producers’ inventories.
One producer is reported to be maintaining a diverse inventory of various grades and measures, which is especially beneficial in a market characterised by buyers who favour frequent purchases of smaller quantities.
Producers are now quoting domestic S275 grade plate at €650/t ex-works and S355 at €680-690/t. Current contracts for S275 grade are priced between €620-630/t, whereas S355 is at €20/t higher. The present booking prices for Asian slab remain stable month-on-month, hovering at around $520-530/t cfr.
A source from a mill indicates that a substantial volume of plate imports is consistently entering Europe, with figures slightly below 200,000 tonnes/month. October and November demonstrated adequate performance in sales, albeit typically characterised by short lead times and limited quantities.
Natalia Capra France
Italian plate prices decline in stagnating market
Italian heavy plate prices are experiencing a downward trend, attributed to reduced domestic demand and competitive, low-cost import offers, Kallanish notes.
The market is quiet, according to mill and distributor sources. Order intake is persistently low. A mill source reports that sales in September and October registered a slight improvement compared to previous months; however, tight margins and inadequate profit continue to pose significant challenges.
Producers are quoting a lead time of about two weeks. Large customers continue to purchase in limited quantities. A small distributor claims he is buying also in small quantities, primarily from producers’ stocks.
According to one source, the EU imported approximately 180,000 tonnes of plate in October. This level has been the monthly average for the past six months. Local demand continues to be met by low-cost imports from Southeast Asia. However, buyers are reporting that Asian suppliers are now raising prices, meaning values of imported and local material are largely the same.
At present, domestic S275 grade plate is priced in the range of €590-610/tonne ($620-641), while S355 is at €620/t ex-works. Producers are asking for €650/t for 355 grade.
Current booking prices for Asian slab are flat on-month at around $520-530/t cfr Italy.
Natalia Capra France
