Turkey - Companies - Demand for plate still poor in Turkey

20/05/2013

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Demand for plate still poor in Turkey

Last Update: 15/08/2011 11:21:45
Demand for plate still poor in Turkey
Demand in the Turkish plate market is still moderate. Buyers prefer keeping their stocks half-full, refilling them for the current needs. Besides, they still prefer local material, which is much cheaper than import one, including the duty. In the second half of August domestic trading companies are expected to increase purchases before a predicted upturn in end-user demand in September.In this situation both local and foreign suppliers mainly hold their offers at two-week-ago levels.
Erdemir,which has already started offering October output of plate, is quoting it at $780-790/t FOB/FOT to domestic customers,though discounts up to $10/t are available.All prices are given exclusive of 18% VAT.Similar material of September production from Ilyich, prices for which have fallen by $10/t in two weeks, is only by $10/t cheaper than domestic products,even excluding import duty.
Stockists keep quotations of Erdemir material by $40/t higher than domestic ones, since it was purchased earlier at higher prices.
Plate of September production from Colakoglu is being offered to local customers at $750-755/t EXW,but market players report the supplier grants up to $15/t discounts for large bookings.The producer's main rival from Ukraine is staying out of the market now,as having sold out August output,it has not determined new prices yet.
European plate suppliers have not revised quotations over the same period because they believe lower prices will not stimulate sales greatly. Market players say contracts were signed for small lots of Makseel AD material,used in special projects,at $965/t C&F a week ago.
SOURCE: Metal Expert 02 August 2011

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