Coated steel prices have surged once again in Turkey, taking into account rather sufficient sales closed starting from the end of last week. In addition, the hot rolled coil (HRC) offers have also increased over the past week and scrap has remained rather strong. Some positive influence on the market sentiment has also been coming from the uptrend in Asia, which means no aggressive offers to Turkey, at least for now. The low point of today’s market situation for coated and CR steel is low exports, which restricts re-rollers flexibility in terms of HRC restocking.
Domestic hot dip galvanized (HDG) offers in Turkey increased by $20-40/mt over the past week to $960-1,000/mt ex-works base. Re-rollers report there has been decent HDG demand lately at around $920-940/mt ex-works, which had allowed producers to more or less sell out February tonnages. Currently, the level of demand has decreased a bit, following the mentioned restocking. In the pre-painted galvanized iron (PPGI) segment, domestic offers have increased by $30/mt to $1,130-1,160/mt ex-works for 20 microns, while some reported $1,100/mt ex-works may be still available in some cases.
The market situation for CRC is somewhat less favorable since demand has remained limited. The current domestic offers are standing at $850-870/mt ex-works, up $10-20/mt over the past week, SteelOrbis has learned.
