Turkish steel plate prices still on the rise

Despite insufficient demand, Turkish steel plate prices have continued to increase due to the ongoing uptrend in local hot rolled coil (HRC) offers. End-user activity has remained low amid the lack of new projects, but buyers have been gradually accepting the new price levels. "Turkish HRC prices have already hit $900/mt ex-works and therefore the current steel plate prices are reasonable. Buyers do not have any problem with the offered price levels, but there are not enough projects to support steel plate consumption over a long time," a trader told SteelOrbis.

Domestic prices from Turkish producer Erdemir have been heard in the market at $820-840/mt ex-works for S235JR quality and at $860-880/mt ex-works for S355 JR quality plates for May production, increasing by $20/mt since last week. June production prices are expected to be a minimum $20/mt higher than the abovementioned level.

On the import side, Bulgaria’s Stomana Industry S.A is offering its limited allocation for May production at $860-870/mt CFR for S235JR grade and at $900-910/mt CFR for S355JR grade, up by $20/mt over the past week. Romania is not in the market but it is expected to announce May production prices soon, while the price idea is $825-830/mt CFR minimum, $10/mt higher than April production prices. Offers from Metinvest have been heard in the market at $800-810/mt CFR for May production, increasing by $10/mt over the past week. South Korean offers have been heard in the market at $870-900/mt CFR for S355JR grade for May shipment, increased by $20-40 over the past week.

In the shipbuilding plate segment, Macedonia-based Makstil is offering at €730/mt CFR for S235JR quality and at €760/mt CFR for S355JR quality, for May deliveries, increasing by €50/mt during the period in question, SteelOrbis has learned.

Prices have increased by $30/mt in the spot market since last week.