The flat steel market in Turkey has remained positive with hot rolled coil prices having reached a new high, while the demand-supply situation is tilted to the advantage of sellers. In these circumstances, most re-rolling companies in Turkey have withdrawn their offers, but the indicative levels have increased by $30-50/mt compared to last week. HDG levels are now estimated at $840-870/mt ex-works base, while PPGI levels are at $930-960/mt, both for March production.
There is still limited availability for February production and it is very likely that sellers will ask for higher prices once they return to the market. "We want to set logical prices and do not want to revise them much afterwards. In particular, any discount causes a negative market outlook. We want to be sure the new price levels are accepted by buyers and we are not in a hurry to sell. Our sales are sufficient and demand is good. We do not want to spoil current demand with absurd price levels. It is better to wait a little bit," a re-roller told SteelOrbis.