Prices surge in Turkish steel plate market

Prices have increased sharply in the steel plate market in Turkey in the past week due to higher steel and raw material prices. In addition, better demand has been observed in the market. "We have seen better demand with better workable levels in the steel plate market after a long time and prices are increasing accordingly. With the demand increase for all flat steel products in Turkey, it is very likely that we will see further price increases for plate soon," a trader told SteelOrbis.

Local producer Erdemir has increased its prices by $50-60/mt to $650-660/mt ex-works for S235JR quality and to $680-700/mt ex-works for S355 JR quality plates, for March production.

Import prices have also increased over the same period. In the import market, Bulgaria’s Stomana Industry S.A. is now offering at $600-610/mt CFR for S235JR grade, increasing by $25-35/mt, and at $650-660/mt CFR for S355JR grade, up $30/mt, for January-February production. New offers from Romania have not been heard yet, but prices are expected to be at a minimum of $620/mt CFR for S235JR quality, for January deliveries. South Korea is in the market with $610/mt CFR for S235JR quality and with $670/mt for S355JR, increasing by $50/mt, both for January deliveries. Also, Metinvest has sold out şts January production at $610-620/mt CFR Turkey, up $60/mt, while its new prices for February production have not been heard yet in the market. Plate offers from Italy have not been heard this week, as SteelOrbis has learned.

In the shipbuilding plate segment, Macedonia-based Makstil is expected to increase its prices this week, while currently no offer has been heard from the producer, as SteelOrbis has learned.

Prices have increased by $50-75/mt since last week in the local spot market.