In the first week of the new year, the overall situation in the Turkish flat steel market has lacked clarity, while local suppliers in Turkey have issued prices depending on their market view and sales portfolio, aiming to get some fresh feedback from buyers. In the HRC segment, domestic offers have been raised slightly, contrary to the significant decline in import offers from China. In the coated and CRC markets, Turkey’s pricing is stable to lower compared to end-of-December levels.
Currently, Turkey’s domestic HRC pricing is at $560-570/mt ex-works, up $10/mt on the lower end over the week, with most cargoes for February deliveries. In the export market, offers are back to $550/mt FOB officially, and time and buyers’ bids will show shortly if the previous workable levels of $530-545/mt FOB will be on the table from Turkish mills.
Import offers from China for large lots of Q195 grade HRC of 3 mm and higher have dropped over the holidays from $505-508/mt CFR to $495/mt CFR last week and $485-495/mt CFR as of early current week. The lower end, according to sources, refers to February shipments and, most probably, not-VAT material. No firm offers from Russia have been heard yet due to the ongoing holiday there, while the latest sales were closed at around $530/mt CFR in December. Based on low Chinese offers, the workable levels for Russian HRC in Turkey are evaluated at $505-515/mt CFR for non-sanctioned products.
In the coated and CRC segments, local prices for 0.5 mm Z100 HDG in Turkey have remained stable at $770-800/mt ex-works, while for exports the offers for 0.5 mm Z60-70 material have slid by $10/mt to $730-750/mt FOB. Local PPGI offers are at $920-930/mt ex-works, down $10/mt on the upper end, while for export the commercial material is at $890-920/mt FOB, stable over the past week. Turkey’s local CRC offers have moved down by $10/mt on the lower end to $680-700/mt ex-works, while for export the material is available at $630-650/mt FOB, versus $635/mt FOB on average earlier.
Currently, most Turkish re-rollers are offering for February deliveries, with only limited tonnages available for January. Overall, discount of around $20-25/mt are applicable to the above price levels depending on the size of orders, market sources told SteelOrbis.