The cautious upward mood which was prevailing among some plate suppliers to Turkey last week has failed to gain support from the overall market situation. The difficult financial situation in the country, coupled with falling hot-rolled coil prices, has resulted in weaker sentiment in the plate market also.
Ex-Romania offers are standing this week at $985/mt CFR, down $5-15/mt over the past week. Some interest in small lots is reported from the Turkish side. Bulgaria still insists on $1,050/mt CFR Turkey, while the latest deals, according to sources, were closed at the end of November at $1,030-1,035/mt CFR. The base grade plate from Macedonia is available in Turkey at €930/mt CFR, SteelOrbis has learned.
A South Korean plate supplier is now offering $980/mt CFR to Turkey for base grade. Previously, the supplier sold around 10,000 mt of plate to Turkey and around 8,000 mt to Italy within $960-980/mt CFR and is not under much pressure to sell now.
In the domestic market in Turkey, Erdemir’s prices are said to be relatively stable at $950-970/mt ex-works base, but the buyers report $10-20/mt discounts may be available. Local traders are quoting $1,120-1,130/mt ex-warehouse for prime S235JR grade, sources say.
