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European plate market bearish on increased availability and cheap imports

Friday, 01 October 2021

European plate prices softened further in the week ending Oct 1, as cheaper slab costs, import pressure adn generous plate stocks kept prices lower, sources told S&P Global Platts.

Plate sold to stockholders were already sold between Eur820-830/mt ex-works Italy, though the workable price hovered around Eur850/mt ex-works Italy for small tonnages to end-users.

An Italy-based mill source said for regular volumes, big stockholders were already starting to discuss Eur750/mt ex-works Italy.

In Germany, however, market prices were still covert, with most mills fully booked for the remainder of the year, and few offers to speak of.

“In Germany they are still offering small volumes, but their main order books are filled until the end of the year. The difference between north and south Europe has stretched to Eur100/mt,” a second Italy-based mill source said. “There is no material available from Germany. Prices have gone down on slow demand and slabs.”

From May to June, the most profitable market for Italian plate producers was North Europe, with the French market now heard to be taking that position, according to the same source.

In the Nordic region, plate prices were heard even lower at Eur785/mt ex-works Italy and between Eur950-965/mt ex-works Ruhr.

In other regions, plate prices were heard from Eastern Europe at Eur800/mt CPT Poland.

-- Amanda Flint

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