Steel plate suppliers in the Turkish market, domestic and foreign suppliers, have cut their prices over the past month citing modest demand, the unfavorable financial situation in the country and the downturn in the hot rolled coil segment.
Local producer Erdemir is now offering at around $700/mt ex-works for the base steel plate grades, versus $750/mt ex-works a month ago. “Demand is weak, but also import pricing has become aggressive and so competition has tightened,” a market source told SteelOrbis. Erdemir’s material is available for August deliveries. In the retail market, according to sources, St37-44 grade plate is available at around $770-800/mt ex-warehouse with some discounts possible, while St52 grade is on offer mainly at $820/mt ex-warehouse.
Import offers from Europe, particularly from Bulgaria, have declined by $20/mt over the past month to $780/mt CFR for August shipments, while Romania’s offers have been reported at around $10/mt lower. Asian suppliers have also decreased their prices for Turkey. In fact, South Korea is now offering at $680/mt CFR for September deliveries, down $50-60/mt over the past month and down $40/mt over the past fortnight. Chinese grade A plate is offered at $650-655/mt CFR, down $10/mt over the past month and for shipment in the second half of August.
