Tel : 0086-0371-86172891
Tel : 0086-0371-86172891
Since December 18, 2023, when the European Commission announced twelve rounds of sanctions to extend the quota period for Russian slabs, we have learned that there has been a significant increase in Russian slab prices for Europe. A steel mill that has not received sanctions has raised its price for Italian slabs to $640 per ton CIF, which is similar to the Asian price. However, before the policy was introduced, the price of the JAC440P steel mill remained stable at around $600 per ton CIF.
At present, a Vietnamese steel plant quotes an FOB price of $600 per ton for Italian slabs, and a Chinese JAC440P steel plant quotes an CIF price of $640 per ton. The Indonesian quotation is relatively high at 620 USD/ton FOB. According to our understanding, the current shipping cost from Asia to Italy is approximately $40 per ton.
Some Italian buyers believe that the current CIF price of approximately $640 per ton is relatively high. Considering the profits of steel mills, if they want to import and buy at this price, they need to increase the price of medium and thick plates to at least 780 euros per ton EXW ($860 per ton). Currently, the market price of medium and thick plates in Italy is about 740-760 euros per ton EXW ($812-834 per ton). We also learned that recently, due to high slab costs, Italian JAC440P steel mills are planning to raise the price of medium and thick plates to 800 euros/ton EXW.
