Turkish flat steel re-rolling companies continue operating in a rather challenging market situation, particularly seeing slack demand in the domestic market. End-user consumers are active but sluggish, while sales to medium-sized processors and retailers are extremely slow and maintained at low volumes, mainly due to the financial pressures on buyers. As a result, the producers have decreased some of their offers and some are providing further $10-20/mt discounts during negotiations. The re-rollers are mainly offering for August production, but some orders for July are still accepted.
Currently, the latest domestic 0.5 mm Z100 HDG prices are at $740-760/mt ex-works, down $10/mt over the past week. In the meantime, export prices for the same material are officially at $700-730/mt FOB, down $5/mt on the upper end. However, some of the sources have reported levels of $670/mt FOB have been acceptable to some suppliers. “Not sure about $670/mt, but we should be definitely below $700/mt FOB in order to sell well,” a supplier told SteelOrbis.
Turkey’s local commercial PPGI is now priced at $820-850/mt ex-works officially, down $20-40/mt, while only the lower end of the range is considered realistic. Moreover, the levels of around $810-815/mt ex-works have been reported in small deals, in line with the export indications.
In the CRC segment, Turkey’s local prices have been reported at $630-650/mt ex-works, down $20/mt, although higher offers are also seen, while for export, mainly in the offers to the EU, the levels are at $610-640/mt FOB, down $5/mt on average over the week. According to sources, additional $10-20/mt discounts are available particularly in the CRC segment for serious buyers.
