Turkish re-rolling companies have been under pressure from slow business activity for a while now, amid the slack end-user demand in the country, mainly due to ongoing economic and financial issues. Domestic buyers have been cautious in their purchases despite the discounts granted, while as regards exports the number of inquiries has also been limited lately. In the meantime, Turkey’s local and export prices for coated and cold rolled steel have dropped since early May. Currently, coated material is on offer in Turkey for end-of-May and June production, which is a sign of low trading activity.
Currently, local HDG base prices in Turkey are at $760-780/mt ex-works in term of reasonable levels, down $10/mt over the past week, while official offers are still being reported at $800/mt ex-works. Export offers for HDG 0.5 mm Z100 material have in the meantime settled for now at $710-740/mt FOB, following suppliers’ earlier attempts to stick to $740-750/mt FOB in official voicings. Turkey’s PPGI domestic prices have been reported at $880-920/mt ex-works, down $20-30/mt from earlier levels, while the indication of $870/mt ex-works is also reported to be available from some suppliers. PPGI export offers have settled at $890-910/mt FOB officially, with discounts of up to $20/mt considered viable.
In the CRC market, local offers for 1 mm coils have moved down by $10-20/mt over the past week to $660-680/mt ex-works, although the majority of indications are still reported at the upper end of the range. CRC export offers have mainly been reported at $650-660/mt FOB with $10/mt discounts possible. Import offers for full hard CR material from China have been received in the past week at as low as $555/mt CFR.