Steel plate prices decreased sharply in Germany and Italy

In the German steel plate market, prices decreased by EUR 23 to EUR 700/ton from EUR 723/ton at the beginning of the month. This decrease was felt particularly sharply in the 14-40 steel plate segment, where prices decreased by EUR 55 from EUR 600 to EUR 545. Slow business activity across Europe and the lack of the expected post-holiday recovery, especially in Germany, were cited as the main reasons for these price decreases.

While suppliers expected prices to increase after the holidays, limited offers in the market as well as low demand, especially from the automotive sector, failed to meet this expectation. In Germany, producers noted that high energy costs continued to weigh on prices, while low production levels are seen as a factor that could prevent prices from decreasing further.

The situation is similar in Italy, where 14-40 steel plate traded at EUR660 in recent weeks, but decreased by EUR15 to EUR675 in the new week. With limited trading activity in both Northern and Southern Europe, the overall market remained subdued.

In the longer term, manufacturers in Germany remain cautiously optimistic that the market can recover. Lower production levels and increased demand from the automotive sector could lead to an improvement in prices, sources noted. On the other hand, Germany's investments in sustainability and technological innovations in steel production are reportedly expected to help the market recover and stabilize in the long run.