Both prices and business activity levels have remained unchanged in the Turkish plate market over the past week. Stocks are still high, while end-user demand is insufficient, and so traders are unwilling to make new purchases. In addition, hot rolled coil (HRC) prices have decreased considerably, causing buyers to expect lower plate prices in the short term too.
"The market outlook remains negative and export demand has also declined for hot rolled products in Turkey. Buyers buy only for their urgent needs and they are exerting strong pressure on prices since HRC offers have decreased. Many traders are giving discounts of up to $20/mt at the moment because stocks are also high in the spot market. We believe we will have to struggle in the same market conditions during the summer this year and we are hoping to see better market conditions in September," 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 September-October production, unchanged over the past week.
In the import segment, Bulgaria’s Stomana Industry S.A is still in the market for September shipment, with limited tonnages. Its prices are at $1,320/mt CFR for S235JR and $1,350/mt for S355JR quality plates, stable since last week. Romania is in the market with $1,295/mt CFR for August production for S235JR quality, also unchanged over the past week. Metinvest is expected to offer soon but is still not in the market. The company's latest prices were at $1,160-1,170/mt CFR, as SteelOrbis has heard.
In the shipbuilding plate segment, Macedonia-based Makstil is offering at €1,030/mt CFR for S235JR quality and at €1,060/mt CFR for S355JR quality, for September deliveries, unchanged since last week, as SteelOrbis has learned.
Prices have remained stable in the local Turkish spot market over the past week.
Product quality |
Seller |
Price ($/mt) |
|
Ereğli |
Gebze |
||
S235JR |
Regular traders |
1,130-1,160 |
1,140-1,180 |
S235JR |
Large traders |
- |
1,150-1,180 |
S355JR |
Large traders |
- |
1,180-1,200 |