Turkish plate prices largely stable, demand sluggish

Demand has remained extremely low in the Turkish steel plate market over the past week. Local and import prices for plate are largely stable due to the unchanged hot rolled coil prices in the country. Buyers still want to wait and gain a clearer picture of the market outlook, while they also believe prices will decrease soon both for plate and HRC materials due to lower scrap prices. For this reason, it is seen that buyers are not in a hurry to conclude deals and they are only purchasing materials to meet their urgent needs.

"Demand remains weak as many buyers think that they will be able to make purchases at lower prices in the coming period due to falling scrap prices. In addition, the economic instability in the country and the insufficient amount of projects in the sectors using steel plate continue to result in chronically weak demand. In this situation, only HRC prices are supporting steel plate prices, and HRC prices are maintaining their current levels. Unless this outlook changes, minor reductions in plate prices may only be seen for real buyers," a trader told SteelOrbis.

Prices from local Turkish producer Erdemir have been heard in the market at $1,070-1,090/mt ex-works for S235JR quality and at $1,120-1,170/mt ex-works for S355JR quality plates for October production, unchanged over the past week.

In the import segment, Bulgaria’s Stomana Industry S.A is in the market for October shipments. Its prices are at $1,200-1,220/mt CFR for S235JR and $1,230-1,240/mt for S355JR quality plates, unchanged since last week. Romania is now in the market with $1,170-1,180/mt CFR for S235JR quality plates for September shipments. The latest price was $1,295/mt CFR for August production for S235JR quality from Romania. Metinvest is again in the market with $1,080-1,090/mt CFR for S235JR quality materials for October shipments, according to the market sources. Their latest price level was at $1,120-1,130/mt CFR for S235JR quality, for September deliveries.

In the shipbuilding plate segment, Macedonia-based Makstil is offering at €1,020/mt CFR for S235JR quality and at €1,050/mt CFR for S355JR quality, for September/October deliveries, deceasing by €10/mt since last  week, as SteelOrbis has learned.

Local prices have not changed in the same period in Turkey.