Local Turkish steel plate prices increase by by $70-100/mt

Prices have increased by $70-100/mt in the local Turkish plate market in the past two weeks due to the increases in hot rolled coil (HRC) and scrap prices in the country. Demand has remained good and stocks are still low in the market. "Demand is good and prices continue to increase for all steel and raw material products. Also, import plate prices have increased and new price levels are already accepted by buyers," a trader told SteelOrbis.

Local producer Erdemir has increased its prices by $50-60/mt to $700-730/mt ex-works for S235JR quality and to $740-760/mt ex-works for S355 JR quality plates, for March production. 

Import prices have also increased over the past two weeks. In the import market, Bulgaria’s Stomana Industry S.A. is now offering at $710-720/mt CFR for S235JR grade and at $760-770/mt CFR for S355JR grade, increasing by $110/mt, for February production. New offers from Romania have not been heard yet, but prices are expected to be at a minimum of $700/mt CFR for S235JR quality, up $80/mt from two weeks ago, for February deliveries. South Korea is not in the market this week, but its offers last week were at $640/mt CFR for S235JR quality and at $680/mt for S355JR, up $30/mt, both for February deliveries. Also, Metinvest is expected to start offering for March production this week.

In the shipbuilding plate segment, Macedonia-based Makstil’s offers at €580/mt CFR for S235JR quality and at €640/mt CFR for S355JR quality, increasing by €70-100/mt since last month, for January-February deliveries, SteelOrbis has learned.

In the local Turkish spot market, prices have increased by $70-100/mt since two weeks ago.