Turkish re-rollers have been mainly reporting quite slow business activity for coated steel this week. Sentiment has remained mainly negative, given the uncertain mood in the scrap segment, the slowdown of end-user demand for flat steel, and the upcoming election. Producers have reported there is only some demand for container projects, otherwise business is extremely silent. In the cold-rolled (CRC) segment even larger discounts were provided. “I think it is because of the capacity. Recent PPGI demand has fulfilled some of the HDG and PPGI capacity, but the cold-rolling lines are quite empty,” a producer told SteelOrbis.
The domestic HDG base (0.5mmZ100) offers currently vary within $1,070-1,150/mt ex-works, which is $25-30/mt lower than last week. Material of 0.5 mm Z60 specification is offered at $1,080-1,130/mt ex-works, SteelOrbis has learned.
In the PPGI segment, the current base domestic offers are at $1,270-1,330/mt ex-works, $20-30/mt down over the week. Some of the suppliers are still trying to stick to $1,350/mt ex-works, but this level is no longer considered workable.
The situation in the CRC market is evaluated as being worse compared to coated, and so sellers have provided more significant discounts. While last week local offers were mainly at $990-1,000/mt ex-works and above, the current indications from a majority of re-rollers are at $950-970/mt ex-works, while only rare suppliers are pushing for $980/mt ex-works, SteelOrbis has learned. In the meantime, a Marmara region-based producer, which is usually the most aggressive supplier, is in the market with $910-915/mt ex-works. In the import segment, ex-China CRC offers have been reported at $800-850/mt CFR for May shipments, SteelOrbis has learned.