The domestic plate prices in Turkey have remained relatively stable over the past week, taking into account medium stocks at traders and the fact that the sole local producer is already offering for August. As a result, despite the unstable hot-rolled coil (HRC) market and decreasing scrap prices, the suppliers in the local market are not under much pressure, at least for now. In the meantime, import offers have dropped further on low demand and, in some cases, as the material was overpriced previously amid more attractive prices in the EU.
This week, Bulgaria’s Stomana is offering $1,450/mt ex-works for July shipment, down from $1,480-1,490/mt CFR previously. Ex-Romania Liberty Galati is in the market to sell at $1,350-1,370/mt CFR for July-August shipments, $30-40/mt down over the past week. South Korea is the most aggressive supplier, offering at $1,210/mt CFR, $40-60/mt down over the past week. However, the supplier is in the market to sell for August-September shipments.
Local producer Erdemir is offering at $1,450/mt ex-works for S235JR grade, the same as a week ago. In the retail market, according to sources, the traders are at $1,570-1,580/mt ex-warehouse still, while some are at up to $1,600/mt ex-warehouse, SteelOrbis has learned.
