Business conditions remain rather challenging in Turkey’s coated and cold rolled coil (CRC) market. Prices have once again decreased sharply, partly as both traders and mills have been trying to diminish their stocks and so they have been rather aggressive in terms of offers.
In the coated steel segment, hot dip galvanized coil (HDG) prices have decreased by $20-40/mt over the past week to $1,150-1,190/mt ex-works base, although higher offers are still reportedly available in the market. As for pre-painted galvanized iron (PPGI), base prices have fallen by $30-40/mt over the same period to $1,230-1,270/mt ex-works, SteelOrbis has learned.
CRC prices in Turkey have decreased by an even larger extent, taking into account lower demand and higher stocks held by producers. Mills’ offers for fresh production have dropped by $25-30/mt over the past week to $980-1,020/mt ex-works base. In the meantime, some producers are offering $950-960/mt ex-works for their ex-stock CR materials, sources report. “I think official producers’ prices will go down to $950/mt ex-works for November and December,” a re-roller said. Ex-warehouse CRC prices in Turkey are at $1,100-1,120/mt, down $30/mt on the upper end over the past week.
In the import CRC segment, the offers from Ukraine are still at $930-950/mt CFR, while the latest prices from Russia have been reported at levels $30-40/mt higher. Specifically, MMK has voiced offers at $960-970/mt CFR, while NLMK’s offers at the end of September were at around $970-980/mt CFR.
