Re-rolling companies in Turkey have once again decreased their official prices for coated and cold rolled steel, bringing them back to the real market levels. Demand has been very weak in the domestic segment, making suppliers lower their prices and also seek a wider presence in the export markets.
According to sources, official local hot-dip galvanized (HDG) coil prices are nowadays at $1,350-1,380/mt ex-works, down $30-40/mt over the past week. Some sellers are still offering at $1,400/mt ex-works and above, although the bids from buyers are down to $1,320/mt ex-works, some sellers say. In the meantime, one mill is reportedly ready to deal at even $1,280-1,300/mt ex-works level, but market players consider this is an isolated case. Local pre-painted galvanized iron (PPGI) prices in Turkey are at $1,470-1,500/mt ex-works base, having dropped by $30/mt over the past week to $1,470-1,500/mt ex-works, SteelOrbis has learned. Most re-rollers are offering for June production, but some offers for the end of May are also heard for limited volumes.
In the CRC segment, where the situation is slightly better, local prices moved down by $20/mt on the upper end over the past week to $1,380-1,400/mt ex-works. Sources report that export offers are $10-20/mt lower than these levels.
