Turkish steel plate prices decline, demand sluggish

In the Turkish steel plate market, demand has been extremely low due to the negative market outlook and the upcoming Feast of Sacrifice holiday and prices have declined in both local and import offers over the week. Trade has come to a standstill because of the holiday which begins next Monday.

"Demand was extremely low this week and we do not expect any recovery at least until August because most market players will continue their holidays for another week after the holiday. Prices have decreased during the negotiations for real buyers, but most market players think we will see lower price levels in August due to the summer lull and we believe buyers will continue to exert pressure on prices accordingly," a trader told SteelOrbis.

Prices from the 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, decreasing by $60/mt over the past week.

In the import segment, Bulgaria’s Stomana Industry S.A is still in the market for September shipments with limited tonnages. Its prices are at $1,200-1220/mt CFR for S235JR and $1,230-1,240/mt for S355JR quality plates, decreasing by $80/mt since last week. Romania is not in the market anymore, while its latest price was at $1,295/mt CFR for August production for S235JR quality. Metinvest is still in the market with $1,120-1,130/mt CFR for S235JR quality, for September deliveries according to market sources. Offers from South Korea have been heard in the market this week, at $1,070-1,080/mt CFR for October deliveries.

In the shipbuilding plate segment, Macedonia-based Makstil is offering at €1,030/mt CFR for S235JR quality and at €1,060/mt CFR for S355JR quality, for September deliveries, unchanged since last week, as SteelOrbis has learned.

Prices have decreased by $50/mt in the local Turkish spot market over the past week.