Meanwhile, imported plate prices in both northern and southern Europe rose during the pricing session, with market sources attributing the increases to adjustments in the region’s steel safeguard measures that were introduced in April.

Italy
Heavy plate prices in Italy were under downward pressure in the week, with limited buying and weak demand weighing on the market.

Fastmarkets’ W

Most transactions were heard to be made at the lower end of the range, one buy-side source said.

A producer source told Fastmarkets that prices for booked or offered material depended on individual mills’ order books, with lower prices offered by mills with thinner order books to attract business.

Meanwhile, import offer prices were at higher levels following new EU steel quota caps introduced on April 1, to remain in force until June 30, 2026.

New measures include a reduction in the annual liberalization rate to 0.1% from 1%in the EU’s steel safeguard measures, tightening import controls, as well as new caps per country over the tariff-rate quota (TRQ) volume initially available in each quarter.

The same producer source said that significant import tonnages for South Korean and Indonesian material have been affected by the new measures.

Indonesian, Indian and Brazilian imported material was offered at €610 per tonne CIF in the week.

Fastmarkets’ weekly price assessment for steel plate (8-40mm), import, cfr main port Southern Europe, was €585-610 per tonne on Wednesday, up by €10-25 per tonne from €575-585 per tonne a week earlier.

And Italian import prices for slab feedstock also widened downward due to the greater availability of cheaper Russian slab in the market.

Northern Europe
In Northern Europe, the domestic commodity-grade steel heavy plate market remained stable, but sources said that the market was still facing weak demand and sluggish trade.

“Northern European prices are always higher versus prices in the south, but even [in the North] prices are under [downward] pressure,” a third market participant said.

Fastmarkets’ weekly price assessment for steel domestic plate, 8-40mm, exw Northern Europe, was €660-700 per tonne on Wednesday, stable week on week.

Imported plate prices in the Northern European market also increased along with Italian imports, with Indonesian offers to Spain reported at €630 per tonne CIF during the week.

Published by: Holly Chant