Steel plate prices have continued rising in Turkey, following the general trend in the global flats market. In addition, the price increase has been fuelled by limited plate availability. One reason is the absence of allocation from Ukraine due to the war, while another reason is the sufficient level of domestic sales in Europe at high prices, making local mills there less active in export markets, specifically in negotiations with Turkey.
In the import segment, European suppliers have been refraining from active offerings to Turkey while having good demand at higher prices in their domestic markets. Bulgaria’s Stomana offered at $1,900/mt CFR and sold small lots slightly below this level at the end of last week. Currently, the supplier prefers to watch the market and the same stance has been adopted by Romania’s Galati. Both mills are expected to make a fresh offer next week. In the meantime, Makstil is in the market to sell at €1,800/mt CFR for shipbuilding grade, up €240/mt from early March. “Prices for HRC, plate and rest of flats in Europe have increased tremendously and the rise seems to be justified at least by energy costs and, certainly, by the limited slab supply for plate production,” a source told SteelOrbis.
Asian plate suppliers are also in the market to offer to Turkey. Ex-South Korea offers have increased by $40/mt over the past two weeks to $1,540/mt CFR. Ex-Indonesia offers for plate are standing at $1,560/mt CFR, SteelOrbis has learned.
According to sources, the domestic level of offers from Erdemir has reached $1,660-1,670/mt ex-works for S235JR for June production, up around $200/mt from mid-March. However, some of the sources reported that for July production the supplier has offered $1,700/mt for S235JR grade and $1,750/mt for S355JR, both on ex-works basis. The latest ex-warehouse plate prices have been reported at $1,740-1,800/mt for S235JR and the premium for S355JR is said to be $40-50/mt nowadays.
