After the Feast of Sacrifice holiday, prices have increased by another $10-20/mt in the Turkish coated steel market but demand has failed to recover. "We had to increase our prices because of higher hot rolled coil prices. For October production, we have to pay around $500/mt for HRC and this means we have higher raw material costs now. But buyers are now quiet and they only want to buy in small tonnages and observe the market," a re-roller told SteelOrbis.
"Now everyone has higher prices with lower demand and we know that, without demand, price increases mean nothing. Demand has to support the new prices, otherwise we will start to see price declines in the market. We can understand that re-rollers have to follow HRC prices but we must be very careful with our purchasing strategies, especially now that we have higher exchange rates, low liquidity and unstable economic conditions in the market. We do not want to buy material for our stocks and we will wait for further developments in the steel market as long as we can," a coated steel buyer said.
On the other hand, sales at $630/mt ex-works base for HDG have been heard in the market this week, while market participants have commented as these could be for stock materials. Offers are now for October production in the Turkish coated steel market.
On the export side, prices have increased due to higher raw material costs and demand has remained sluggish mainly because of Covid-19 and the summer period in the EU.
Turkish domestic prices (ex-works) |
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Product |
Price ($/mt) |
Weekly change($/mt) |
HDG 0.50 mm 100gr/m² |
650-670 |
+10 |
HDG 1 mm 100gr/m² |
620-640 |
+20 |
HDG 2 mm 100gr/m² |
610-620 |
+20 |
PPGI RAL 9002 0.3 mm 100 gr/m² |
830-850 |
+10 |
PPGI RAL 9002 0.5 mm 100 gr/m² |
740-770 |
0/+10 |
PPGI RAL 9002 1 mm 100 gr/m² |
730-760 |
0/+10 |
Turkish export quotations (FOB) |
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Product |
Price ($/mt) |
Weekly change($/mt) |
HDG 0.50 mm 100gr/m² |
640-660 |
+10 |
PPGI RAL 9002 0.5 mm 100 gr/m² |
740-760 |
+10 |