There has been an increase in plate prices in Europe over the past week. Although the upward trend continues, incoming demand remains stable.
The reason for this weak demand is seen as the fact that distributors have stocked up in the period when prices were low and are avoiding buying in large tonnages. In Italy, steelmakers are experiencing a period when cheap material is being withdrawn from the market to meet high slab prices, while other sources confirm a reduction in transaction volumes.
In Southern Europe, domestic heavy plate prices were reported to have increased by €15/mt weekly to €750/mt ex-works Italy. Steel plate prices ex-Italy are trading around €730-750/mt.
Slab prices from Asia have been assessed around $630-640/mt CIF, while import slab prices in Southern Europe have been trading around $635/mt CIF for the past week. Italy's level is seen to be stable.
Slab prices were higher in Northwest Europe, despite steelmakers in Germany focusing on securing long-term contracts. Sources assessed local plate prices in Northwest Europe at €830/mt ex Ruhr mill, up €30/mt on the week. Offers for German delivery were reportedly around €840-850/mt.
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