Plate suppliers in the Turkish market have failed to achieve increased prices in deals due to buyers’ resistance as stocks have been high while end-user demand has remained subdued. As a result, traders have chosen to decrease their offer prices.
Big traders in the Gebze region are now offering at $520-530/mt for S235JR quality and $560-570/mt for S355 quality plates, both ex-warehouse, down $20/mt since last week. In the meantime, traders’ offers for St37 grade 15-40 mm x 1,500 mm plate are at $500-520/mt ex-warehouse in Gebze and at $490-510/mt ex-warehouse in the Eregli region, both down by $10/mt from last week, SteelOrbis has learned. The levels are for advance payment and prompt deliveries. Erdemir continues to offer at $500-510/mt ex-works for July deliveries but discounts are again acceptable. “Stocks are high and demand is insufficient in the steel plate market. Despite the increases in the scrap and hot rolled coil markets, buyers do not accept any price increase due to high stocks. They know they can easily find what they need and create pressure on prices,” a trader told SteelOrbis.
Import offers have been stable since last week but, due to low demand in the Turkish market, discounts are acceptable for import offers too. Bulgaria’s Stomana Industry S.A. is in the market with $540-550/mt CFR for S235JR grade and $580/mt CFR for S355JR grade for July production. In the shipbuilding plate segment, Macedonia-based Makstil’s price is at €530/mt CFR for June/July deliveries, SteelOrbis has learned.