Turkey’s flats market has remained quite dull in terms of demand, though pricing and mood are still supported by the positive sentiment in China. This week, China has once again increased its HRC offers to Turkish buyers. However, the price levels are not yet considered workable, though they help Turkish sellers of the same material to avoid discounts, at least for now.
Currently, offers of hot rolled coil (HRC) Q195 of 3mm and higher from China to Turkey are at $615-620/mt CFR for August-September shipments, up $5-15/mt over the past week. In this situation, Turkey’s domestic HRC offers have largely remained at $650-680/mt ex-works in terms of list prices. However, the $640/mt ex-works level is also considered reachable for large tonnages.
In the cold rolled coil (CRC) segment, ex-China offers have settled at $680/mt CFR for now, although some sources indicate $10-15/mt higher levels. Domestic CRC prices in Turkey are now at $755-780/mt ex-works from most mills, while for export one can book at $730-750/mt FOB. Local HDG prices in Turkey are concentrated in the $840-860/mt ex-works range, while last week $870-880/mt levels were also voiced. Domestic PPGI prices are mainly at $930-960/mt ex-works, down $20-30/mt over the past week.
