Turkey-based flats re-rolling companies have mainly decreased their domestic coated and cold-rolled coil (CRC) offers compared to the levels at the end of September. The key reason is considerably slow demand since a lot of domestic buyers are under pressure from ongoing financial and cash flow issues and therefore are not ready to carry additional risks. As a result, their volume of purchases has been lower than usual. Combined with the slow export activity, this factor has forced Turkish suppliers to cut their offers for coated steel and CRC. The relatively pessimistic expectations in the hot-rolled coil (HRC) segment is another factor in favor of re-rollers’ discounts.
Currently, the base prices for hot dip galvanized (HDG) in Turkey are at $780-820/mt ex-works, down $10-20/mt over the past fortnight. The domestic pre-painted galvanized iron (PPGI) prices have decreased more significantly, by $20-30/mt to $890-930/mt ex-works depending on the supplier. The coated material is mostly available for November deliveries nowadays. The workable export offers for Turkish coated steel for November shipments are mainly $20-30/mt lower than domestic offers.
In the CRC segment, local offers have dropped by $10-20/mt to $720-740/mt ex-works, SteelOrbis has learned. As regards exports, the lowest reported level is at $700-710/mt FOB in offers to the nearby countries. In the import CRC segment, offers from South Korea have been received in Turkey at $700/mt CFR.