Domestic prices for rolled steel in Italy declined in the week to Thursday, June 4, reflecting weak demand for summer supplies, while prices in Northern Europe remained stable amid low trade rates, Fastmarkets reported.
Italy
It was reported that the prices of thick-sheet steel in Italy fluctuated in the range of 730-750 euros (849-873 dollars) per ton from the manufacturer on June 4, which did not change compared to applications received a week earlier.
Market sources reported that the offers were announced at a price of 730-760 euros per ton, which is slightly lower than the previous offers at 740-760 euros per ton from the factory, and the lower price reflects competition for commodity volumes.
"Demand is limited. Distributors are in no hurry to order products for July and August. Their sales from stocks are also limited," the manufacturer said on Thursday, adding that other suppliers "compete strongly at all levels."
"I don't see a sudden decision for July-August, most likely it will depend on demand, and price increases are not expected," the manufacturer added.
A source at the trading company also noted that trading was still sluggish and insufficient to fill summer order portfolios, "which forces market participants to expect lengthy maintenance stops in July and August."
Weekly Fastmarkets prices The price of domestic 8-40 mm thick steel sheet exported to Southern Europe on Thursday was 730-750 euros per ton, down from 730-755 euros per ton a week earlier.
Northern Europe
Offers for the sale of thick-rolled products in Germany were received in the range of 800-850 euros per ton from the factory. According to one of the producers, the lower price of about 800-820 euros per ton was due to the supply of raw materials to Belgium, Italy and France.
Figures in the range of 830-850 euros per ton from the plant were reported, but no significant trading was heard during the week.
The manufacturer reported that some deals had been concluded for the supply of German rolled products at a price of 790-800 euros per ton from the plant.
This also applies to shipments to Belgium, Italy, and France, but some of these destinations are outside the scope of the Nordic assessment.
"We have not seen competing offers from German factories. These are the prices confirmed by suppliers from Italy, Belgium and France," the manufacturer said on Thursday. "I do not exclude that the Germans' prices were higher, but they are not very noticeable in the daily spot market."
The distributor stated that the cost of transportation from Italy to Germany was quite high, making Italian plates less competitive in the Nordic countries. "A cheaper stove can be purchased in Germany,
