In the week leading up to October 10, prices for thick-sheet metal products in Europe increased slightly, and Italian distributors in particular saw a new opportunity to raise prices.
Prices in Northwestern Europe increased slightly over the week and amounted to 670 euros per ton from the factory for s235jr grades and 680 euros per ton for s355jr grades, while sources believe that the reserves of thick-rolled products are mainly filled in the Northern European market at stable prices, which limits the possibility of realizing gaps in the order portfolio at a higher level. in connection with the announcement by the European Commission of new import restrictions.
McCloskey estimates that, thanks to new proposals from the European Commission and the existing guarantee system, the annual production of category 7 heavy rolled products has decreased by about 63%.
One of the sources said that the lag in dynamics is not uncommon in the Northern European market, when plants commit to the production of heavy rolled products earlier than other steel products due to the projected balance of demand in the market of rolled products and its overall reduced sensitivity to new market factors.
"This is a general trend in the[North European plate]market," said a source at the distribution company. "Plate manufacturers often "miss the point" and seem to decline while others rise, and then are forced to stay low when others decline again. Although, ultimately, most of them, especially the distributors, are probably still profitable at the current level."
Producers in Northern Europe have reportedly announced an increase in production of 20 euros per tonne in 2026.
In Italy, the ambitions were higher, and a source at the plant described offers at a price of 640-650 euros per ton both this year and in the first quarter, which is 40 euros per ton higher than current trading prices.
"We will see a revival in the market, buyers realize that they will not have an imported alternative to domestic production," the source said. "Offers for the first quarter are coming in at a price of 640-650 euros per ton from the factory, but we are not ready for sale this year yet."
Larger shipments are still being sold at a price of 600-610 euros per ton from the factory, which, according to McCloskey's calculations, amounts to sources still providing rollersby a margin of 15-25 euros per ton, based on recent imports of slabs at a price of 500 dollars per ton from Italy and processing costs of 150 euro per ton.
"Some factories are still making last-minute deals at a price of 600 euros per tonne for 275 pounds and 620-630 euros per tonne with delivery for 355 pounds," said an Italian trader. "These deals have been concluded for larger batches, so the plants are increasing their volumes."
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