SteelOrbis has learned from market sources that, due to price decreases in the global market, Turkey’s flat steel exports continue to face fierce competition. It is observed that in October ex-India flat rolled offers to Europe were significantly lower as compared to offers from Turkey. Offers for hot rolled coil (HRC) from India to Europe are at $560–570/mt CFR, while Turkish producers are not willing to decrease their prices to these levels. Meanwhile, HRC transactions are reported to have been concluded from the Middle East to Europe in October.
Although sales from Turkey to Europe were weak in October, some transactions from Turkey to other export markets have been heard. Market sources say that the shifting of the price downtrend to a sideways trend in the Chinese flat steel market and positive signals in the Turkish domestic market indicate that export prices could increase and also that competition could slacken in target markets.
As of today, November 1, HRC export offers from Turkish producers are at $560–570/mt FOB, while export offers for cold rolled coils (CRC) are standing at $670–690/mt FOB.
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