The unstable currency exchange rate and low demand have once again resulted in lower plate offers in Turkey. However, while having lowered prices, suppliers also have limited the size of available discounts. “Currency fluctuations have caused extra worries in the market and affected demand negatively. We have to respond to customers’ price requests as much as we can but we cannot say that prices have gone down dramatically because discounts were on the table for a long time. But we are now more strict and discounts up to $30/mt are no longer possible,” a trader told SteelOrbis. “These levels were already given in recent weeks in the form of discounts, so there is not a big change in prices,” another trader said.
In the local market in Turkey, Erdemir is now offering at $490-500/mt ex-works for June deliveries, decreasing by $30/mt since last week, while market sources also state that discounts up to $20/mt are still acceptable according to tonnage and payment terms. Big traders in Gebze are offering $530-540/mt for S235JR quality and $570-580/mt for S355 quality plates, both ex-warehouse, down $10-20/mt in the same period. In the meantime, traders’ offers for St37 grade 15-40 mm x 1,500 mm plate are at $490-510/mt ex-warehouse in Gebze and at $480-500/mt ex-warehouse in the Eregli region, down $30/mt over the past week, SteelOrbis has learned. Traders’ prices are for advance payment and prompt deliveries.
Bulgaria’s Stomana Industry S.A. is in the market with $520-530/mt CFR for S235JR grade and $560/mt CFR for S355JR grade for June production, stable since last week. According to sources, Ukrainian producer Metinvest’s prices remain at $470-480/mt CFR this week. In the shipbuilding plate segment, Macedonia-based Makstil’s price is at €520-530/mt ($595/mt) CFR for June deliveries, down €10/mt over the past week, with discounts of up to €10-15/mt also acceptable, SteelOrbis has learned.