Continuously low business activity, coupled with the weakened sentiment in the scrap and hot rolled coil (HRC) market of Turkey, has pushed domestic coated steel prices further down. In the meantime, local cold rolled coil (CRC) offers have remained relatively stable over the past week, taking into account the mills provided larger discounts earlier.
According to sources, the current local price range for the 0.5 mm Z100 hot dip galvanized (HDG) material is at $1,020-1,100/mt ex-works, down $50/mt over the past week. Moreover, some of the suppliers do not exclude additional $15-20/mt discounts. In the pre-painted galvanized iron (PPGI) segment, local offers have gone down by $20-30/mt over the past week to $1,250-1,300/mt ex-works, SteelOrbis has learned.
Turkey’s local CRC prices have remained within the $950-980/mt ex-works range, which includes offers from a majority of local producers. However, one of them has remained aggressive at around $910-915/mt ex-works, in line with last week. It is noteworthy that there is a rumour in the market regarding an $880/mt price level available for CRC, but most sources believe it is more possible for exports rather than for domestic trade.