Sentiment in the European market for steel heavy plate was downbeat in the week to Wednesday September 1 due to declines in both the costs for raw materials and semi-finished steel prices, sources have told Fastmarkets.
Competitive offers from Central Europe also contributed to the negative mood in the market.
Fastmarkets' price assessment for
steel domestic plate, 8-40mm, exw Southern Europe, was unchanged over the week at ?,?920-940 ($1,087-1,111) per tonne on September 1.
The assessment was based on the lower end of offers heard at ?,?920-950 per tonne ex-works and achievable prices estimated by market sources at the assessment range.
Heavy plate in Southern Europe is produced mainly by Italian rerollers using imported slab. And the decline in semi-finished steel prices has prompted buyers to push for discounts on heavy plate.