Import and local plate prices in Turkey still on the rise

Steel plate prices have increased in Turkey over the past week though business activity has not shown any significant improvement. The key reason for the price rise are the favourable market fundamentals in the flats segment overall and the positive mood among overseas suppliers. “Hot rolled coil (HRC) prices are already above $900/mt in the country. We can see new increases in the coming period because the uptrend in the flat steel market has not yet come to an end and foreign sellers have already declared that their prices will be higher, mainly because of the better market conditions in the EU," a trader told SteelOrbis.

Domestic prices from Turkish producer Erdemir have been heard in the market at $860-880/mt ex-works for S235JR quality and at $890-910/mt ex-works for S355 JR quality plates for June production, up $40/mt over the past week.

In the import segment, Bulgaria’s Stomana Industry S.A is offering its limited allocation for May production at $860-870/mt CFR for S235JR grade and at $900-910/mt CFR for S355JR grade, unchanged over the reported period. Ex-Bulgaria plate prices for June production are expected to be announced at a higher level. Romania is in the market with $850-860/mt CFR for S235JR grade material for May rolling, $25-30/mt higher than the level which buyers had expected from the supplier. Offers from Metinvest have been heard in the market at $815-830/mt CFR for May production, increasing by $15-20/mt over the past week. South Korean offers have not been heard in the market this week.

In the shipbuilding plate segment, Macedonia-based Makstil is offering at €730/mt CFR for S235JR quality and at €760/mt CFR for S355JR quality, for May deliveries. No price change has been seen over the period in question but most likely the supplier will move to raise prices next week, as SteelOrbis understands.

Prices have increased by $20/mt in the spot market since last week.