Although domestic end-users’ and traders’ demand for plate in Turkey has remained moderate and local prices are still relatively stable, import offers have risen significantly over the past two weeks. The main reason is higher production costs in the EU due to the surge in energy prices. Another reason is the absence of offers from South Korea due to the recent flooding there.
In the import plate segment in Turkey, Romania’s Liberty Galati has increased its offer for October shipment by $170/mt since the end of August to $1,200/mt CFR. Bugaria’s Stomana is now offering plate for October-November shipments at $1,170/mt CFR, up from $1,050/mt CFR offered three weeks back. “It is clear that the EU has increased prices due to higher costs: all the mills there are concerned by rising energy tariffs and related production cuts,” a source told SteelOrbis. Offers from South Korea, which had been one of the most aggressive suppliers lately, are absent from the market due to the accident at POSCO.
In the local market in Turkey, Erdemir remains firm at $1,000/mt ex-works for S235JR for November production, while ex-warehouse offers are mainly at $1,240-1,260/mt for the same grade. “The demand I can say is regular. But at a time of price increases, more questions crop up about revisions. In terms of bookings, the situation in the plate segment is rather stable,” a foreign supplier said.