Chinese import prices for heavy plates into Western Europe are continuing their downward drift putting more pressure on local producers whose prices are falling as a consequence. As in September, most Italian, Spanish and French distributors and stockists have yet to resume buying as the value of plate keeps depreciating, industry sources tell Kallanish.

Chinese heavy plate is offered as low as $280/tonne cif (€314/t) Southern European port for January delivery. The base ex-works range of Italian, French and Spanish transactions is €380-430/t with prices varying according to quality and quantity, sources suggest.

“Price are still far from bottoming out. The market in extremely nervous and keeps stagnating. At these prices margins are way too tight for both producers and distributors to make any money. Prices are expected to remain fragile in November,” an Italian service centre comments.