Turkish re-rollers have taken some upward steps in their domestic offer prices, supported by increasing prices for hot rolled coils (HRC) and steel scrap. However, they admit it will be tough to sell at the new levels as end-user demand in the country is still subdued.
Cold rolled coil (CRC) prices in Turkey have increased by $10-25/mt over the past week to $515-530/mt ex-works, while some re-rolling companies have been offering at $10/mt higher than that, SteelOrbis has learned. Bids, however, are closer to $500/mt ex-works, sellers report.
Higher feedstock indications have also been reflected in the coated steel segment. Turkey’s 0.5 mm Z 100 hot dip galvanized coil prices have increased by $10-20/mt over the past week to $580-590/mt ex-works. Base prices for pre-painted coils have increased by $30/mt week on week to $660-680/mt ex-works.
Currently, Turkish re-rollers are trying to sell products for May deliveries, while some material for April is still available, especially in the coated steel segment. Market players are generally skeptical regarding the recent price increase for flats, saying that end-user demand is too weak for higher levels to be accepted as the production activities of a lot of industries remain suspended for now.
