In Turkey, the workable prices for steel plate from most suppliers have decreased over the past two weeks, due to the pressure coming from the downturn in the hot rolled coil (HRC) and import scrap segments. Only some plate sellers have preferred to maintain their price positions at the previous levels since they are enjoying livelier domestic demand. In the meantime, business activity in Turkey’s market has been moderate and the discounts provided have managed to attract some customers.
Currently, the import plate price from South Korea for St.37 grade is standing at $870/mt CFR for June shipments, while a decent tonnage for May shipment was sold last week at $850/mt CFR. Two weeks ago, South Korea was in the market with $920/mt CFR indications, which were not workable at the time.
Plate offers from China have dropped by at least $30-40/mt over the fortnight to $740-750/mt CFR base in many offers and are up to $770/mt CFR base from certain suppliers. The product is available for July deliveries.
In the meantime, European plate suppliers, namely Romania and Bulgaria, have decided to maintain their offers at $1,025/mt and $1,040/mt, both on CFR basis and for June shipments.
In the local Turkish market, Erdemir’s June production offers have decreased by $10-30/mt over the past two weeks to $970-990/mt ex-works depending on the grade and order size. The domestic retail prices have settled at $1,050/mt ex-warehouse, down $30-50/mt. However, in the case of a serious order, a further $20-50/mt discount is considered possible.