Domestic and some import plate prices in Turkey have rebounded in the first week of the new year, following a few months of a constant decline. The main reason is the costlier hot rolled coil and scrap, and a more positive situation in Asia. However, aside from the positive situation in related markets, there has been better demand seen for plate in Turkey and some of the suppliers managed to sell lots at higher price levels. In the meantime, not all sellers are back in the market yet with the new offers after the holidays.
Local Turkish producer Erdemir is now offering steel plate at a minimum of $950/mt ex-works base, up from $900-920/mt ex-works earlier. According to sources, the supplier has managed to almost close its sales for the first quarter of the year over the past two weeks and is now in a rather relaxed position. In the retail market, plate prices in Turkey are at $1,000-1,050/mt ex-warehouse, almost in line with the price levels of two weeks ago.
In the import segment, Bulgaria’s Stomana has increased its official offers by $40/mt over the past fortnight to $980/mt CFR for end-of-February shipments. Romania’s Liberty Galati, same and Macedonia’s Macsteel are not in the market with firm offers, but are expected to increase prices next week. South Korea’s POSCO, according to some sources, is offering at $830/mt CFR base for March shipment, up from $750-760/mt CFR two weeks ago. However, some buyers report they received around $930-950/mt CFR from South Korea for S355J2, while the extras for this grade are usually set at $50-60/mt. Chinese offers for grade A or AH grades are at around $770-800/mt CFR, up $20-50/mt over the past two weeks.