A decline in business activity has been seen in the plate market in Turkey due to the sharp and continuing currency fluctuations, lower end-user demand, and the overall downward mood. As a result, import plate suppliers have decreased their offers to the Turkish market. Moreover, the local producer is also reportedly ready to provide sizeable discounts.
Bulgaria’s Stomana is now offering plate at $1,030-1,040/mt CFR for based quality, while previously the sales were closed at around $1,040-1,050/mt CFR, SteelOrbis has learned. Ex-Romania Galati has been aiming to sell at $1,000/mt CFR base, but buyers believe some discounts might be negotiable. Ukraine’s Metinvest, according to sources, has been offering at around $910-930/mt CFR, down by around $10/mt. In the meantime, plate offers from South Korea have decreased by $40/mt over the past two weeks, down to $980/mt CFR Turkey.
In the domestic market, Erdemir’s official price is at $990-1,000/mt ex-works base. However, the company’s buyers and competitors report down to $950-970/mt ex-works is possible to negotiate for orders which include stock material.