Domestic prices for thick-sheet steel in European markets remained generally stable, while trading activity was low during the summer recession, which also led to stabilization of import prices for Italian slabs, Fastmarkets reported on Thursday, August 13. Sources , , in Italy, ,
,The sources indicated reasonable prices for rolled steel of the basic grades at the level of 690-700 euros ($797-809) per ton in a warehouse in Italy on August 13, which corresponds to the latest deals reported a week earlier. They also confirmed the offer, which was announced by the supplier on August 6, at a price of 720 euros per ton from the factory, but it was considered unworkable. Market participants
It was stated that the levels of 690-700 euros per ton from the plant are a potential minimum in market prices associated with the traditional summer recession in August. Weekly price assessment
Fastmarkets the price of domestic 8-40 mm thick steel sheet exported to Southern Europe on Thursday was 690-700 euros per ton, down by 10 euros per ton from 690-710 euros per ton a week earlier.
At the same time, the latest offers for the import of steel slabs to Italy were presented in the range of $13. On August 13, the price of raw materials from Southeast Asia was 545-565 dollars per ton of CIF, while Chinese factories offered slabs at a price of 560 dollars per ton of CIF. Trader
One said the Indonesian slab could even be a few dollars cheaper than CIF's $545 per ton, but did not report any deals reached at lower levels. A customer source said that slab prices had "not changed" during the week, while most Italian factories were closed during the August holidays. "A couple of Chinese offers were extended for about $560[per ton of CIF], but no deals or real changes[were made]," the same source added.
As a result, Fastmarkets' weekly price estimate for steel slab imports to Italy on Thursday was $545-560 per ton, unchanged over the week.
Northern Europe
During the week, there was no significant market activity in the domestic market of rolled products in Northern Europe.
Market participantsMarket continued to cite limited supplies from integrated German sheet metal manufacturers, which was related to previous price increases in the market, but no new deals were heard confirming the sharp price increase. Offers
andThe base cost was reported to be 850-880 euros per ton from the factory, while reasonable prices were indicated at 820-850 euros per ton from the factory, which did not change compared to a week earlier. Weekly price assessment
andFastmarkets for domestic sheet metal 8-40 mm thick with delivery to Northern Europe