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European plate prices remain weak
Chinese import prices for heavy plates into Western Europe are stable at the low levels seen in October as price falls by local producers appear to have come to an end. Italian, Spanish and French distributors and stockists are buying very little as there is still fear that the value of plate may depreciate further, industry sources tell Kallanish. This reflects the situation seen in October.
Chinese heavy plate is offered at $290-320/tonne cif Southern European port for January boarding and delivery within 60 days. Chinese material is of very high quality, in sizes of up to 5m length x 150cm thickness. Buyers in Southern Europe have been receiving between 5,000 tonnes and 10,000t of Chinese plates per quarter.
The base ex-works range of European transactions from local producers is €350-430/t ($378-465/t) with prices varying according to quality and quantity, sources suggest. Some mills in Southern Europe are selling at €350/t delivered, sources say. The latest arrival in Italy was in September.
“The current stability doesn’t necessarily mean that prices have bottomed out. Buyers are negotiating but most are putting off signing any contracts because the market is nervous and the current tight margins are scaring everyone,” a French service centre comments. Depending on Chinese prices, quotations in Europe are forecast to remain stable for the next two weeks, sources believe.
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Anonymous
Very good overview of the weekly steel market.
Anonymous