Low demand pulls local plate prices down in Turkey

Wednesday, 25 March 2020 17:53:52 (GMT+3)   |   Istanbul

Earlier possible discounts for Turkish steel plate in the local market have turned into a real price decrease this week, while demand has remained sluggish. In the meantime, import offers have remained stable for now. The global coronavirus outbreak has caused many shutdowns in many consuming industries globally and has resulted in decreasing plate sales as well, with trade getting worse day by day.

Turkey-based Erdemir has decreased its local price by $20/mt to $550-560/mt ex-works for April-May deliveries. In the meantime, traders in Turkey have made the same price move and are offering St37 grade 15-40 mm x 1,500 mm plate at $540-560/mt ex-warehouse in Gebze and at $530-550/mt ex-warehouse in the Eregli region, SteelOrbis has learned. Prices are for advance payment for March-April deliveries.

In the import segment, Bulgaria’s Stomana Industry S.A. is in the market with $560-570/mt CFR for May production, stable since last week. Ukraine’s Metinvest is offering $520-530/mt CFR, SteelOrbis has learned. Romania’s Liberty Galati’s offers are at $555-560/mt CFR Turkey. In the shipbuilding plate segment, Macedonia-based Makstil’s price is at €550/mt ($595/mt) CFR for April deliveries, stable since last week, SteelOrbis has learned.

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