Plate prices in the Turkish market have moved up significantly over the past month, but mainly in the past two weeks. The main support came from improved market sentiment, costlier scrap and the better situation in the hot-rolled coil market. It is worth mentioning that the positive market evaluation, generally in the steel sector in Turkey, is connected with the devastating earthquakes on February 6. The government announced it would require 4 million mt of rebar within three to four months, and large numbers are also expected for flats too, including plate.
The current import offers from Bulgaria are coming at $1,050/mt CFR for April shipments, up $10/mt over the past month. A Romanian supplier is finally back in the market with a $1,040/mt CFR offer for April-May shipment, given that it will restart its blast furnace in March. South Korea is offering at $950/mt CFR base this week, up $75/mt over the past month.
In the domestic market, no firm offers have been heard from Erdemir, while some market sources report its plate line will be undergoing maintenance soon. In the meantime, retail plate prices in Turkey are at $1,150-1,200/mt ex-warehouse.
