Low domestic demand, linked to the difficult financial situation in Turkey, and the challenges facing exports continue to weigh on Turkey’s cold rolled and coated steel producers. The lack of significant movement seen in the hot rolled coil (HRC) and import scrap segments are supporting the mills in avoiding large discounts for now, but trading activity is not quite sufficient for a price rebound. As a result, Turkey’s price positions in the CRC and coated steel segments have hardly changed over the past week and re-rollers are acting according to their market situation and production availability. Some of them insist on high offers but provide $20-30/mt discounts, while others stick to more realistic official offers.
In the CRC segment, domestic offers are at $730-745/mt ex-works minimum, stable over the past week, and down by $10-15/mt over the past fortnight. The material is available mainly for July production, although some producers claim they are already offering for August and at close to $760-780/mt ex-works, which is not workable. In addition, some offers have been heard at as high as $790/mt ex-works, but for 90-day deferred payment. Export offers for CRC from Turkey are at $700-730/mt FOB for July shipments, although $10-20/mt higher levels have also been heard in the market.
Turkey’s local hot dip galvanized (HDG) coils are available at $820-840/mt ex-works for Z60-70 material, with $5-10/mt discounts considered possible for large volumes, while Z100 material is on offer at $840-860/mt ex-works. Pre-painted galvanized iron (PPGI) in Turkey is currently available at $960-980/mt ex-works/FOB for both domestic and export markets, although some suppliers are trying to voice $1,000/mt ex-works, SteelOrbis has learned.
Over the past week, Turkey’s domestic tinplate prices have not changed and are still at $1,140-1,160/mt ex-works, while export offers are at $1,100/mt FOB minimum. The material is available for July-August shipments.
