Turkey’s plate market has continued trending down this week and this time competitive import offers, which decreased to a limited extent, have dragged down the domestic producer’s and retail offers. Although, according to sellers, the demand is there, buyers are still postponing purchases, aiming to achieve the lowest levels possible. Such a stance is widely believed to be justified by the generally unfavorable market conditions in the hot rolled coil and import scrap segments.
Romania’s Liberty Galati has cut its price by $50/mt on the upper end over the past week to $1,250/mt CFR for August shipment. Bulgaria’s Stomana, according to sources, dropped its price also by $50/mt to $1,300/mt CFR for the same shipment term. South Korea applied the biggest price decrease over the week, from $1,190-1,200/mt CFR to $1,110-1,140/mt CFR, for August-September shipments.
Such a noticeable decrease in import plate prices has had a negative impact on domestic offers in Turkey. Local producer Erdemir decreased its price from around $1,400/mt ex-works to $1,300/mt ex-works this week and even lower levels might be considered. The lowest ex-warehouse price for S235JR plate in Turkey has been reported at $1,250/mt ex-warehouse from a large supplier, while the general pricing from other sellers is at up to $1,280-1,300/mt ex-warehouse, SteelOrbis has learned.
