Prices of steel plate in Italy are on a downward trend

Prices of steel plate in Italy started the week of March 11 with a decrease due to subdued sales and a stagnant market.

According to SteelRadar data, steel plate prices in Italy, which traded at €775 in February, decreased to €750 at the end of February. Steel plate, which was traded at €760 in the first week of March, dropped by €5 to €755 as of March 11. SteelRadar's sources said that the plate sales were made in low tonnages, underlining the high cost of processing activities.

According to Assofermet, the Italian steel trade association, market participants reported a decrease in orders for March 2024 compared to March 2024 orders last year. Despite the high production costs, European steelmakers are expected to cut prices in the hope of a demand increase.

Steel plate order books are reported to be full until April-May, while the market is expected to remain stable for this month.