The market situation in Turkey’s coated steel and cold rolled coil segments remains unfavorable as domestic demand is still low and exports are rather challenging, specifically to the EU. As a result, prices have moved down over the past week and additional discounts are possible.
The domestic price range for HDG in Turkey has narrowed down this week to $1,220-1,240/mt ex-works base, versus $1,210-2,290/mt ex-works seen earlier in September. Still, according to some producers, discounts up to $20/mt are possible for the serious buyers. “HDG trade is not so bad but slow, so discounts are heard. PPGI is bad as the stock prices are very low,” a source said.
In the PPGI segment, local prices have decreased by $20/mt on the lower end to $1,270-1,350/mt ex-works base, but similar discounts are also applicable, sources say. High stocks and lower retail prices at $1,260/mt ex-warehouse in some cases are said as the main reasons for the mills’ price policy.
Local prices for tinplate in Turkey have been set at $1,530-1,550/mt ex-works base for November-December production, down by $30/mt over the past week. Export levels are more or less the same nowadays, while there is also an expectation that some sellers may be ready to drop offers to $1,500/mt FOB.
The cold rolled coil segment remains subdued in Turkey with the official offers at $1,100-1,130/mt ex-works base. However, sources report some suppliers may agree to accept levels $30-40/mt levels.