Turkish steel plate market rises further despite subdued demand

Domestic plate demand has once again failed to recover in Turkey, but prices have continued to move up with support from the firm hot rolled coil (HRC) segment and higher prices in the scrap market. "Plate prices are also strong in the global markets. Some market players think that without demand it is not logical to increase plate prices, but we have to follow the trends in our production costs. In addition, offers from import sources increase almost every week," a trader told SteelOrbis.

Prices from the local producer Erdemir have been heard in the market at $910-930/mt ex-works for S235JR quality and at $940-960/mt ex-works for S355JR quality plates for July production, increasing by $50/mt over the month.

In the import segment, limited allocation from Bulgaria’s Stomana Industry S.A for June production is on offer at $910-920/mt CFR for S235JR grade and at $950-970/mt CFR for S355JR grade, up $40/mt over the past week. Romania is in the market with $925-930/mt CFR for S235JR grade material for June rolling, up $60-65/mt over the past week. Metinvest is again absent from the market but is expected to return with July production offers and a price increase.

In the shipbuilding plate segment, Macedonia-based Makstil is offering at €780/mt CFR for S235JR quality and at €810/mt CFR for S355JR quality, for June deliveries, unchanged over the past week, as SteelOrbis learned.

Prices have increased by $40/mt in the spot market since last week.