This week, Turkey’s steel plate market has seen quite a significant price decrease in the domestic segment and in most import offers. One reason is the unfavourable situation in the related hot rolled coil (HRC) market and the competition among local and Asian suppliers. Another reason is buyers’ still cautious mood regarding plate restocking, although generally the mills describe the demand level as moderate.
Local producer Erdemir is now offering steel plate for July production at $910-930/mt ex-works for base grades, down from $930-950/mt ex-works last week. Domestic retail plate prices are said to be in the range of $1,000-1,030/mt ex-warehouse for base grades, down $20-50/mt down over the past week and at up to $1,100/mt ex-warehouse for S355J2 grades.
The foreign suppliers have also dropped their prices over the week. Romania has decreased the offer for July by $40/mt over the past week to $960/mt CFR, while Bulgaria is offering at $990/mt CFR for July shipment, down $10/mt over the past week. South Korea, according to sources, is officially at $830/mt CFR for July shipments, $20-30/mt down over the week. Chinese suppliers, according to traders, are at $760-770/mt CFR for grade A but no one seems to be interested in these except for shipyards. The commercial grade is available at $750/mt CFR for July deliveries.