Turkish coated steel an CR prices have not changed drastically over the past week, mainly due to the absence of any movement either in terms of sales nor feedstock prices. The daily business activity has remained slack with only buyers’ daily requirements being fulfilled. Still, some discounts are on the table for sizeable lots and serious orders, with more potential at present seen in the domestic market than for exports.
Local HRC base Z100 prices have remained at $745-760/mt ex-works, while for exports the lowest levels of $670-680/mt FOB, earlier available from only a few re-rollers, have been withdrawn from the market and the most recent export indications vary from $700-720/mt FOB to $730-745/mt FOB for early October shipments. In the PPGI segment, the domestic and export offers have settled at $830-860/mt and $810-850/mt, on ex-works and FOB basis, respectively.
Local CRC offers in Turkey are at $650-660/mt ex-works officially, with $10/mt discounts considered possible for sizeable volumes. Export offers, according to sellers, are at $630-660/mt FOB, up $10/mt on the upper end over the past week. Most of the CR material is offered for October shipment, though some of the re-rollers might be able to offer for late September as well. “Europe is gradually coming back from the holiday but exports are still slow and Asian offers for CR are competitive - at $650-650/mt CFR southern Europe,” a trading source told SteelOrbis.
Import CRC offers from China have been reported at $600-610/mt CFR for October shipments for 1 mm commercial grade, with not many takers seen due to the long lead time. In addition, according to sources, cold rolled fulıl hard material ex-China is on offer at $570-575/mt CFR, while South Korean material is at $580-585/mt CFR.