Plate prices have weakened significantly in Turkey over the past month, particularly in the import segment. The main reasons are buyers’ limited activity amid the tough financial situation in the country, the approaching local elections and the Eid holiday, coupled with the downturn in the related hot rolled coil (HRC) segment seen in both Turkey and the EU.
Import offers from Europe, namely, from Bulgaria and Romania, are now at $850-860/mt CFR depending on the supplier, versus $860/mt and $860-870/mt CFR seen last week, while a month ago prices stood at $860-885/mt CFR, SteelOrbis reported.
Asian suppliers, since they can offer only material with long lead times, are present in the market with quite aggressive price levels. South Korea has dropped offers by $40/mt over the past month to $710/mt CFR for May shipments, while China is offering at $690-700/mt CFR for shipbuilding grades or at around $650-660/mt CFR for base grades, SteelOrbis understands.
Domestic plate prices in Turkey for May production have decreased by $20-30/mt over the past month to $780-790/mt ex-works. However, some of the buyers have reported that $750-760/mt ex-works offers are also on the table.
