Coated steel producers in Turkey have revised their offers downwards by the end of the week with local prices falling by $15-30/mt. Low demand and pressure from buyers are the key reasons for the decline. In addition, sentiment in the local hot rolled coil market is mainly downward. "After scrap prices declined, buyers started to exert strong pressure on prices. We gave discounts last week, but stocks are sufficient in the market and buyers have insisted on further discounts. There is strong competition in the market now and this causes further price declines," a coated steel producer told SteelOrbis.
Local hot dip galvanized prices in Turkey have dropped by $30/mt over the past week to $580-610/mt ex-works base. However, it is worth mentioning that the lower end of the range is available from only some mills for now, although producers mainly agree this is the workable level for buyers.
Export prices for Turkey’s coated steel have also declined by $20/mt over the past week. Further discounts are possible for the real buyers as bids from the key consuming markets are low.
Turkish domestic prices (ex-works) |
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Product |
Price ($/mt) |
Weekly Change($/mt) |
HDG 0.50 mm 100gr/m² |
580-610 |
-30 |
HDG 1 mm 100gr/m² |
540-570 |
-30 |
HDG 2 mm 100gr/m² |
530-550 |
-30 |
PPGI RAL 9002 0.3 mm 100 gr/m² |
770-790 |
-20 |
PPGI RAL 9002 0.5 mm 100 gr/m² |
700-710 |
-15/-30 |
PPGI RAL 9002 1 mm 100 gr/m² |
680-690 |
-20 |
Turkish export quotations (FOB) |
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Product |
Price ($/mt) |
Weekly Change($/mt) |
HDG 0.50 mm 100gr/m² |
580-600 |
-20 |
PPGI RAL 9002 0.5 mm 100 gr/m² |
680-700 |
-20 |