The European thick-sheet metal market was trading sideways during the week that lasted until February 20, as project-based orders provided long-term support to the market, as well as interesting dynamics of slab purchases.
In Northern Europe, the prices for rolled products with delivery amounted to about 750 euros per ton for the s235 brand and about 800 euros per ton for the s355 brand. Offers for grade s235 were generally closer to the estimated price, while offers for grade s355, supplied from Germany and Austria, ranged from 830 to 880 euros per ton. It was reported that offers from Central Europe were aimed at the same price of 800 euros per ton, which is currently considered acceptable for sale in Germany grade s355.
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Proposals were heard for imports to Antwerp at a price of 780 euros per ton (imports from India) for grade s355, and to the Italian market at a price of 630-640 euros per ton (imports from India) for grade s275.
The Italian market looks to be as stable as the Nordic market, as reported by sources on both the buyers' and sellers' sides. Deals were concluded for spot volumes ranging from 710 to 730 euros per ton, and for project volumes - about 750 euros per ton. The buyers of the projects are asking to extend the deadlines for completing orders until the last quarter of 2027, supporting manufacturers, but doing little to immediately fill their order portfolios.
However, short-term demand was not seen as too serious a problem, and activity was described by an Italian trader as "ongoing, but not fantastic."
Data on the cost of slabs for Italian rolling machines imported from India remains stable at about $510 per ton; Chinese materials are currently unavailable due to the ongoing Lunar New Year holidays, but exporters are expected to return to the market with prices of about $550 per ton. Italy.
At the end of the week, McCloskey announced that the sole European buyer, with a presence throughout Europe, had ordered more than 300,000 tons of slabs from Brazil - most of the slabs available on the Brazilian spot market – leaving little volume to other buyers, including distributors who do not have their own steel semi-finished products.
Market participants speculated about the buyer's motivation, emphasizing the relatively low risk associated with importing Brazilian slabs under the Carbon Boundary Regulation Mechanism (CBAM), due to their competitive default values compared to other exporters.
For example, one ton of slabs imported from Indonesia at standard prices may result in,
