Some of the plate suppliers to Turkey have increased their offer prices, following some stronger restocking activity and the general upward trend in the hot rolled coil (HRC) and raw materials segments. In the meantime, some sellers have decreased their indications, most probably trying to attract the attention of buyers.
Local producer Erdemir, according to sources, is now offering S235JR plate to the domestic market at $1,000-1,030/mt ex-works, indicating at least a $40/mt rebound over the past two weeks. “HRC is up and they really seem to be sold out for now, hence the price,” a trader told SteelOrbis.
In the import segment, Ukraine’s Metinvest has increased prices by at least $20-30/mt over the past week to $930-950/mt CFR for plate. Bulgaria’s Stomana and South Korea have decided to leave their offers for Turkey stable at $1,040/mt CFR and $980/mt CFR. Sources reported the ex-South Korea level has been workable since there have been small lots traded this week. Romania’s Galati is at $1,000/mt CFR for base quality, down $20-30/mt over the past two weeks. It is worth mentioning that the EU-based suppliers are affected by the exchange rates and high freight costs at the moment, and so their price positions have been impacted not only by demand.