Turkish coated steel prices have declined further over the past week due to low demand and the generally negative market outlook. The activity of buyers has remained subdued, limited by falling hot rolled and cold rolled prices, sufficient stock levels, and the unstable economic situation in Turkey. Local customers expect to meet their needs at a discount shortly and they are still exerting pressure on producers. Also, the upcoming holiday is affecting market expectations negatively as business usually slows down in this period.
On the export side, demand is also low due to the investigation in the EU. Buyers in export destinations also have sufficient stock levels and they want to see a clearer picture before concluding purchases.
"The market has a negative outlook at the moment. The upcoming summer holidays and the investigation in the EU have caused low demand in the export markets. Local demand is also low, because buyers still believe prices have not yet bottomed out. In the current circumstances, producers have no choice but to give further discounts, but of course there is limited room. Because of the current price levels of HRC, we do not expect to see sharp price declines nowadays, but we may see small discounts for real buyers," a producer told SteelOrbis.
Local prices have decreased $110-130/mt since the end of May in the Turkish coated steel market.
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Turkish domestic prices (ex-works) |
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|
Product |
Price ($/mt) |
Weekly change ($/mt) |
|
HDG 0.50 mm 100gr/m² |
1,350-1,400 |
-30 |
|
HDG 1 mm 100gr/m² |
1,330-1,380 |
-30 |
|
HDG 2 mm 100gr/m² |
1,300-1,350 |
-30 |
|
PPGI RAL 9002 0.3 mm 100 gr/m² |
1.600-1,630 |
-20 |
|
PPGI RAL 9002 0.5 mm 100 gr/m² |
1,420-1,440 |
-10 |
|
PPGI RAL 9002 1 mm 100 gr/m² |
1,390-1,420 |
-10 |
|
Turkish export quotations (FOB) |
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|
Product |
Price ($/mt) |
Weekly change ($/mt) |
|
HDG 0.50 mm 100gr/m² |
1,350-1,380 |
-30 |
|
PPGI RAL 9002 0.5 mm 100 gr/m² |
1,410-1,430 |
-10 |