In Northern Europe, the weekly assessment of steel plate prices rose to €860–885 per tonne ex-works, with market participants reporting high mill offers and a shortage of available volumes. The increase in Italy was modest, to €745–760 per tonne, as buyers were reluctant to accept new prices amid weak demand and rising producer costs.
According to Fastmarkets, both assessments were published on Thursday, November 12. They cover plate 8–40 mm thick.
Italy
Trading in Italy was slow. Market participants said only small volumes were available for December, while producers were struggling to secure their target prices for deliveries in 2027. Current indications were €740–760 per tonne ex-works; one trader reported deals at €745–760.
An Italian processor said it had already sold out of plate volumes for delivery in the fourth quarter of 2026 and expected to sell material for shipment in January 2027 at €780–800 per tonne ex-works. However, in its view, such prices were still “unworkable”: stockholding companies were not prepared to pay more than €750–760.
“Whether coil or plate, the main argument against price increases is weak activity in the processing industries and concerns that this will lead to higher prices for retail buyers. This stance is slowing purchasing,” the producer said.
The processor described cost pressure as “serious” and estimated the cost of producing plate at €750–770 per tonne ex-works. To continue selling in the first quarter of 2027, it said it needed to reach a price of €780 per tonne. Actual deals had not yet reached that level.
“Demand in the market is not yet strong enough for a real shortage to emerge. That could happen later, when first-quarter deliveries begin, but that is not the situation now,” the supplier said.
Offers for January–February 2027 reached €800 per tonne ex-works, with the overall range at €770–800. Buyers were reluctant to accept them. According to a trader, market participants expect purchasing activity to slow in the coming weeks.
Fastmarkets’ assessment for the Southern European domestic market was €745–760 per tonne ex-works, €5 above the lower end of the range a week earlier, when it stood at €740–760.
Import offers from India and Indonesia were at €720–760 per tonne CFR Spain. However, market participants said import demand was limited because of the EU’s tougher safeguard measures. The assessment of imported plate for major ports in Southern Europe remained at €710–750 per tonne.
Asian suppliers’ offers for slabs to Italy were $580–600 per tonne CFR; Chinese material was offered near the upper end of the range, at $590–600. One trader said the workable level was $585–595, while another reported deals for Chinese slabs at $590–610. The upper end of the latter range was excluded from the assessment due to a lack of confirmation. The weekly assessment of imported slabs for Italy was unchanged at $580–600 per tonne CIF.
Northern Europe
In Northern Europe, mills were seeking to raise prices, but buyers were in no hurry to place orders. Producer offers for first-quarter 2027 deliveries reached €870–890 per tonne ex-works. Market participants said no material was available for delivery in 2026. Fastmarkets therefore included these offers despite the assessment methodology allowing for delivery lead times of up to six weeks.
“Buyers do not have much need to purchase material at the moment. A new market price will emerge over the next one to two weeks,” a trader said.
He described the market as being at a standstill: stockholders and service centres had already ordered significant volumes of flat steel for November–December to secure material and lock in prices.
“Mills are now offering higher prices, but purchasing needs remain limited, and customers are watching the market closely,” the trader added.
Two other market participants said the workable range was €840–860 per tonne ex-works. Its lower end was excluded from the assessment because suppliers showed no interest in offers at that level. One trader reported offers at €850–880 per tonne and cited regional mills that, according to the trader, had volumes available for delivery in 2026.
Most market participants, however, said there were no available volumes for that period. On November 5, Fastmarkets reported that German producers had fully booked their capacity with orders for 2026 due to strong demand from pipe projects.
Fastmarkets’ weekly assessment for the Northern European domestic market rose from €840–880 to €860–885 per tonne ex-works. According to a trader, import plate offers were either unavailable or “completely uninteresting”; no new data had emerged during the week. The assessment of imported plate for major ports in the region was unchanged at €710–750 per tonne CFR.