The ongoing political and economic turmoil in Turkey following the coup attempt on July 15 has had an impact on the Turkish domestic special steel market over the past week, while price trends have been influenced in different ways.
During the past week, cold drawing carbon steel prices in the Turkish domestic special steel market have moved up due to the Turkish lira losing significant strength against the US dollar. Meanwhile, demand for cold drawing free cutting steel is still at medium levels, while prices have remained stable week on week.
In the same period, demand in the local Turkish hot drawing special steel market has slackened a little due to the ongoing political and economic tensions in the country. As a result, hot rolled heat treatable and spring steel prices in Turkey have declined slightly over the past week.
Domestic special steel quotations in Turkey are expected to follow diverse trends in the coming period as the fluctuations in the Turkish lira-US dollar exchange rate are expected to continue and also amid competitive market conditions.
As of July 27, 2016, Turkish steelmaker Coskun Group's special steel prices are at the following levels:
Product | Quality | Type of production | Price (TRY/kg) |
Carbon steel | SAE 1040-SAE 1070 | Hot rolled | 1.45 ($0.47/kg) |
Carbon steel | SAE 1040-SAE 1050 | Cold drawing | 1.57 ($0.52/kg) |
Carbon steel | S355JR | Hot rolled | 1.45 ($0.48/kg) |
Carbon steel | S235JR | Hot rolled | 1.39 ($0.46/kg) |
Carbon steel | S235JR-SAE 1008 | Cold drawing | 1.49 ($0.49/kg) |
Heat treatable steel | SAE 5140 (41Cr4) | Hot rolled | 1.60 ($0.53/kg) |
Heat treatable steel | SAE 4140 (42CrMo4) | Hot rolled | 1.80 ($0.59/kg) |
Spring steel | 55Cr3 | Hot rolled | 1.69 ($0.56/kg) |
Spring steel | 60SiMn5 | Hot rolled | 1.69 ($0.56/kg) |
Free cutting steel | 11SMnPb30 | Cold drawing | 2.15 ($0.71/kg) |
Free cutting steel | 11SMn30 | Cold drawing | 2.08 ($0.68/kg) |
The above prices are for advance payments, and exclusive of 18 percent VAT and freight costs.
$1 = TRY 3.04