Turkey’s re-rolling companies have been suffering from low-volume sales amid the low demand in the local market and almost non-existent trade with the EU. Some negotiations are there in the US, but bids are low taking into account competitive offers from other destinations. As a result, the re-rollers have been forced to once again decrease their prices for coated steel, thus putting additional pressure on the hot-rolled coil offers in the country.
According to sources, the domestic HDG prices in Turkey at least $20-40/mt down to $1,220-1,240/mt ex-works in the official offers, while for exports even lower levels have been heard – at $1,200-1,210/mt FOB. Specifically, some suppliers have been trying to top up their cargoes destined to the US, but seems there are aggressive prices coming from Asia, Vietnam specifically, therefore the business remains challenging. In the meantime, the EU has been silent amid the ongoing AD case.
In the PPGI segment, the Turkey’s domestic prices have fallen by $20-30/mt over the week to $1,300-1,330/mt ex-works, SteelOrbis has learned.