Some import and domestic prices for steel plate have decreased in Turkey over the past two weeks, mainly reflecting buyers’ negative sentiment and expectations, while the end-user demand has remained relatively moderate. Particularly, plate customers are exerting pressure on the suppliers, claiming the price difference between plate and hot-rolled coil (HRC) is too big and also the mood in the import scrap segment has been weakening. As a result, some of the foreign plate sellers to Turkey have decreased their prices quite dramatically, and so the domestic producer chose to also provide sizeable discounts.
Import plate prices of Bulgarian origin are at $1,180-1,190/mt CFR, down by $10-20/mt over two weeks. Romania is standing at $1,120-1,150/mt CFR depending on the order size, falling by $70-80/mt over the same period. Still, suppliers from South Korea are the most aggressive with offers at $880-890/mt CFR, versus $980-1,000/mt CFR in early July.
Following the downtrend in the import market, Turkey’s Erdemir decreased its prices for plate by $70-100/mt over the past two weeks to $1,100-1,150/mt ex-works, SteelOrbis has learned.
