In the Turkish coated steel market, demand has remained subdued and prices have decreased by $30-40/mt over the past week. There was an expectation that the prices of coated products in Turkey would increase due to the cancellation of the tax rebates in China. However, the opposite trend was observed due to the pressure exerted by buyers, low demand and weaker scrap prices.
One producer told SteelOrbis, "In the current market conditions, a price increase [for the coated steel] does not seem possible. Many producers are now able to sell for delivery at the end of August. Because there was no problem in supply, China's tax refund cancellation was not viewed as a serious factor by buyers. Currently, both domestic demand and export demand are quite weak. Turkish buyers are delaying their purchases because they think that the falling scrap prices have not yet been reflected in the flat and coated product prices and that prices will continue to decline. Buyers in export markets are mostly on vacation during this period."
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Turkish domestic prices (ex-works) |
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Product |
Price ($/mt) |
Weekly change ($/mt) |
|
HDG 0.50 mm 100gr/m² |
1,310-1,360 |
-40 |
|
HDG 1 mm 100gr/m² |
1,290-1,340 |
-40 |
|
HDG 2 mm 100gr/m² |
1,260-1,310 |
-40 |
|
PPGI RAL 9002 0.3 mm 100 gr/m² |
1,570-1,600 |
-30 |
|
PPGI RAL 9002 0.5 mm 100 gr/m² |
1,390-1,410 |
-30 |
|
PPGI RAL 9002 1 mm 100 gr/m² |
1,360-1,390 |
-30 |
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Turkish export quotations (FOB) |
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|
Product |
Price ($/mt) |
Weekly change ($/mt) |
|
HDG 0.50 mm 100gr/m² |
1,310-1,340 |
-40 |
|
PPGI RAL 9002 0.5 mm 100 gr/m² |
1,380-1,400 |
-30 |