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Home > MEPS Steel News - 20.02.2018

EU Plate Prices Climb on Reduced Import Volumes and Elevated Slab Costs

Further upward pressure on European commodity grade plate prices was noted, in February. Rises of between €20 and €50 per tonne were implemented, depending on the source of supply. Slab costs continued to escalate. Plate imports are less disruptive than of late, as overseas quotations move up.

In Germany, an upward price adjustment was secured, this month. Stock replenishment is underway at several large distributors. Sales to the earthmoving and mining sectors have strengthened. Overall demand is stable. In the linepipe market, where several large projects will be finalised during 2018, some uncertainty regarding future activity levels is developing.

French selling values rose, in February. Further increases are anticipated by buyers, to offset more expensive slab costs. Nonetheless, distributors struggle to pass on the mill hikes to their customers. Although major stockists and fabricators booked significant quantities, in December, they are looking to purchase again as delivery lead times are quickly increasing.

Slab feedstock is expensive and difficult to secure, forcing Italian rerollers to instigate price increases, this month, for finished products. The economy is improving and, with it, sales of plate.

End-user demand in the UK is relatively quiet, at present, although a number of service centres report better sales volumes. The full implications of the collapse of construction giant, Carillion, are unlikely to be felt until the end of the first quarter. Market values moved up in the last few weeks. Offers from continental Europe and from India are higher than those for local material. Strong competition continues to blight the distribution sector, with many stockholders working on very low margins.

Belgian figures were boosted, as a result of relatively good consumption, rising slab costs and expensive import quotations. In Spain, domestic prices rose. Offers from India are considered to be too costly, at present.

MEPS - European Steel Review - February 2018 Issue

Also See: MEPS All Products Composite Purchasing Price & Index



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