The latest reference prices from The Steel Index show that plate prices in southern Europe have weakened sharply, but US and northern European prices have held fairly steady compared to last week. Southern European plate prices have hit a new 12-month low, while rebar price levels in both European regions remain 9% higher than the recent low-points.

The plate reference price in southern Europe fell by €26/tonne compared to last week, while the average delivery time is slightly shorter at 5.7 weeks. The southern European rebar ex-mill price has also fallen slightly to €427/tonne ($572/t). Average delivery times are shorter than last week at 4.3 weeks.

The northern European plate ex-mill reference price is essentially unchanged from last week’s level at €741/tonne ($992/t). The average plate delivery time is more than a week shorter at 5.7 weeks. The northern European rebar ex-mill reference price is almost the same as last week, with rebar lead-times shorter at 4 weeks.

The US plate reference price FOB Midwest mill is just $6/short ton lower at $923/short ton ($1,017/tonne). The average US plate delivery time is longer at 4.2 weeks.