Turkish re-rollers have once again not managed to avoid providing discounts to local buyers. Moreover, the price drops in the cold rolled coil (CRC) segment are more significant compared to those for coated steel.
The official local CRC price in Turkey is now standing at $1,005-1,050/mt ex-works, versus $1,050-1080/mt ex-works seen last week. Most producers are offering at the higher end of the range, while only some prefer to speed up the destocking process by dealing at rather aggressive levels. The spot prices for cold rolled sheet have decreased by $20-30/mt over the past week to $1,100-1,150/mt ex-warehouse and lower levels may also be applicable. In the import segment, offers and deals from one of the CIS-based mills have been reported at $930-950/mt CFR.
In the coated steel segment, local hot dip galvanized coil (HDG) prices have been settled at $1,170-1,230/mt ex-works base. The price has decreased by $40/mt on the lower end of the range, marking the actual workable level in the market, while the higher end represents official indicative offers from some mills, SteelOrbis understands. The local offer range for pre-painted galvanized iron (PPGI) has narrowed down to $1,270-1,300/mt ex-works base, from $1,270-1,330/mt ex-works seen last week
