Following a rather long period of low business activity, quite large discounts available on official offers and the generally gloomy market outlook, Turkish re-rolling companies have finally increased their cold rolled and coated prices. However, since the demand has steel remained on the low side due to inactive exports and slow end-user activity in the domestic market, the price rise is mainly attributed to the surge in prices in China.
As HRC feedstock prices from China have reached $495-508/mt CFR for September shipments as of today, July 22, the market mood has improved somewhat. And, although not many believe the uptrend will be long-lived, some flats producers in Turkey have decided to take advantage of the situation.
As a result, local base HDG prices in Turkey are now back to $760-780/mt ex-works and up to $800/mt ex-works in some cases, up $30/mt over the past week. Export 0.5 mm Z100 offers, however, are still on the lower side, at $670-730/mt FOB. Turkey’s official PPGI commercial offers have increased by $30-40/mt to $870-895/mt ex-works in the domestic market, while for export the material is available at $850-880/mt FOB, SteelOrbis has learned.
Turkey’s CRC offers are not moving much, at least for now. The domestic offers are mainly at $650/mt ex-works, while $630/mt ex-works does not seem to be widespread anymore. Export offers are mainly reported at $620-640/mt FOB, relatively stable over the past week.
