Turkish steel plate prices largely stable, but discounts possible

Demand has come to a standstill in the Turkish steel plate market over the past week, with the negative impact of the upcoming holiday. Sellers have tried to maintain their current prices but, after the declines in hot rolled coil prices in the country, buyers have started to exert strong pressure on prices also in the plate segment. Eventually, sellers have started to grant discounts of up to $20/mt to real buyers. "Demand is really low in the market and most players are already in a holiday mood. Also, stocks are sufficient in the market and we do not expect to see any demand recovery during the summer period," a trader told SteelOrbis.

Prices from the local Turkish producer Erdemir have been heard in the market at $1,130-1,150/mt ex-works for S235JR quality and at $1,180-1,230/mt ex-works for S355JR quality plates for October production, unchanged over the past week. But market sources state that discounts of up to $20/mt are applicable.

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 $1,280-1300/mt CFR for S235JR and $1,310-1320/mt for S355JR quality plates, decreasing by $20-40/mt since last week. Romania is not in the market anymore. It latest price was at $1,295/mt CFR for August production for S235JR quality from the country. Metinvest is now in the market with $1,120-1,130/mt CFR for S235JR quality, for September deliveries, according to market sources. The company's latest prices were at $1,160-1,170/mt CFR, as SteelOrbis has heard.

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 remained stable in the local Turkish spot market over the week.