Downtrend still prevails in Turkish coated and CRC steel markets

Wednesday, 08 December 2021 17:06:16 (GMT+3)   |   Istanbul
       

Sentiments have remained negative and business is still slow in Turkey’s market for coated steel and cold-rolled coil (CRC). Local prices have seen another decrease over the past week as a result of insufficient demand and the decline seen in the feedstock segment.

Local hot-dip galvanized (HDG) prices in Turkey have lost $40/mt over the past week to $1,150-1,180/mt ex-works base from most re-rollers. Some are still officially quoting $1,200-1,210/mt ex-works, but these levels are considered not workable. The local offers for the pre-painted galvanized iron (PPGI) are at $1,250-1,300/mt ex-works base, down $20-30/mt over the same period.

In the meantime, local CRC prices in Turkey have fallen by the same margin of $20-30/mt to $1,030-1,060/mt ex-works base. In the import segment, offers from Ukraine have been reported at $930-940/mt CFR this week, while the levels from Russia are estimated at around $20-30/mt higher than that.


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