Turkey’s hot-rolled coil (HRC) pricing can be described as relatively stable this week if talking about official offers. However, given aggressive ex-Russia sales to Turkey and the low domestic prices for flats from some re-rollers, the domestic HRC prices are flexible in terms of prices in the case of serious orders. Moreover, the upward mood seen last week has been weakened, at least for now.
Turkey’s domestic HRC prices are at $810-840/mt ex-works base for July-August deliveries, while some mills are voicing $850/mt ex-works. Still, some buyers and traders report $800-810/mt levels are also reachable for serious orders. As regards exports, following sizable sales from the end of May, some mills prefer to collect bids instead of giving firm offers.
According to local sources, Russia has continued its presence in the Turkish market and continued sales at $750/mt CFR, while earlier the same mill was aiming to get $780-800/mt CFR. Other Russian suppliers are standing at the same $750/mt CFR level, but are ready to deal at $730-740/mt CFR. However, their material is considered to be riskier to deal with due to the direct sanctions against the mills’ owners.
In the meantime, the mood among Turkish re-rolling companies is uneven and their pricing depends on their sales positions and their market evaluations. The upward sentiment seen in the segment since last week has been a little shaken by the move of Tezcan, which again declared low sales prices for its stock material. “It seems it is their new channel and a new way of selling,” a local source told SteelOrbis. As a result, local hot-dipped galvanized (HDG) prices are within a rather wide range. The lowest offers have been heard at $900-930/mt ex-works, while most suppliers are at $950-980/mt ex-works. Some re-rollers, which are most probably sold out of considerable volumes for July, are voicing $1,000/mt ex-works base. Turkey’s pre-painted galvanized iron (PPGI) is available at $1,020-1,050/mt ex-works from most suppliers, although the lowest level is at $1,000-1,010/mt ex-works.
In the cold-rolled coil (CRC) market, domestic prices are mainly at $920-950/mt ex-works, while some are at $890-900/mt ex-works, marking the lowest level in the market.
