The surge in steel price levels from China announced before the holiday, driven by the most recent stimulus measures in the country, have had a positive effect on flat steel prices in Turkey. With import hot rolled coil (HRC) offers from China having increased by $50/mt week on week and with domestic mills in Turkey also having raised their prices, local Turkish re-rolling companies, seeing that they will most probably have to buy costlier feedstock for November and December, have increased their prices as well.
In particular, most Turkish domestic HRC offers are now at $600-620/mt ex-works, up from $580-590/mt ex-works over the past week, while China’s offers surged to $560-570/mt CFR as of September 30.
In the cold rolled coil (CRC) segment, the most recent local offers are at $700-730/mt ex-works, up $10-20/mt over the past week. Turkey’s domestic 0.5 mm Z 100 HDG prices are at $785-830/mt ex-works, while Z60-70 material is at $780-820/mt ex-works, up $10-20/mt since the end of September.
Turkey’s pre-painted galvanized iron (PPGI) prices are at $935-960/mt ex-works, with some sellers offering at up to $980/mt ex-works, up from $900-935/mt ex-works last week.
Domestic tin plate prices in Turkey are also on the rise but the size of the increase has been modest. According to sources, suppliers are trying to increase their prices by about $20-30/mt to around $1,040-1,050/mt ex-works for base material, SteelOrbis has learned.
