Prices for thick steel sheet in Italy rose in the week to Thursday, November 27, amid widespread expectations of additional costs for the Carbon Boundary Regulation Mechanism (CBAM), while prices in Northern Europe remained stable, sources told Fastmarkets.
Italy
Fastmarkets' weekly prices for 8-40 mm thick steel sheet for the domestic market, excluding shipments to Southern Europe, were 650-660 euros (753-764 US dollars) per ton on Thursday, up 10 euros per ton from 640-650 euros per ton on November 20.
The commercial steel sheet was offered in Italy at 650 euros per ton on a free-of–charge basis, the sources said, with limited sales at that level for delivery in January - although the deals were for smaller volumes, below the minimum tonnage specified by Fastmarkets.
Market participants were optimistic, and one source said that Italian retailers were likely to target even higher prices in the coming weeks.
Northern Europe
Prices for heavy sheets in Northern Europe, meanwhile, remained at the same level from the week to Thursday, amid slow trading, sources said.
Fastmarkets' weekly estimate of steel sheet for the domestic market with a thickness of 8-40 mm without delivery to Northern Europe was 670-700 euros per ton on Thursday, stable week after week.
However, regional import transactions were registered at the level of 710-720 euros per ton of CPT.
Import
The import of steel sheets from East Asia was offered in Italy and Germany at a price of about 680 euros per ton DDP for materials S235 and S275.
Holly Chant
Fastmarkets.com
