Italian plate market quietens on flat prices
The Italian plate market is going quiet as mills and distributors are idling activity for the August holiday break.
Prices for the S275 and S355 grades ticked up in the first half of July amid restocking for end-August and September delivery. Demand, however, has quietened in the second half of July and beginning of August, in line with the general low activity seen in the European steel sector.
Market sources tell Kallanish that values are now stable, and some deliveries will be slightly delayed because of the imminent mill closures. Stronger demand continues to be reported for S355 grade compared to S275. Some sources are pessimistic for September as they say demand has been “a bit too quiet” in recent weeks and fear that values may edge down next month.
On average, S275 is now hovering at €750-770/tonne ($820-842) ex-works, while €780-790/t is being paid for S355. Lead times from local producers are in the second half of September for material with round edges and in October for trimmed edges. Local producers report very low stocks.
Imported slab in Italy is hovering at $610/t cfr on average.
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