According to market sources close to SteelOrbis, S275 plate prices in the local Italian heavy plate market have increased by €10-30/mt to €520-550/mt ($500-572/mt) ex-works compared to last month. Domestic producers closed the month of January on a successful note, with a fair amount of orders booked for February. Furthermore, there are no significant volumes of heavy plate imports in the market.
Market sources indicate that local heavy plate demand is currently very weak, while the downturn of scrap prices has led buyers to maintain a wait-and-see stance despite the firmness of hot rolled coil prices. As a result, heavy plate prices may soften in the coming period, although any decrease is not likely to be particularly significant.
€1 = $1.08