Turkey’s hot rolled coil (HRC) prices have declined only slightly over the past week, although domestic and overseas buyers have continued to push for discounts. Some mills have started resisting further price cuts, citing a certain amount of sales already concluded for August production. In addition, no drastic change of trend has been witnessed in the import scrap segment, while the recent adjustment of electricity tariffs is expected to increase production costs slightly. In the meantime, Chinese offers have weakened once again, restraining any upward sentiments that may be seen among Turkish mills.
Currently, domestic HRC prices in Turkey are considered to be in the range of $580-590/mt ex-works base, for August deliveries, with the lower end of the range marking deals for medium and large tonnages. Some buyers have reported $570-575/mt ex-works, but actual deals at such a level have not been confirmed by the time of publication. HRC export prices from Turkey have remained at $575-585/mt FOB and higher in offers, while the latest deals have been reported at $570-580/mt FOB base to Europe and some other regions.
Import offers from China have rolled back to $547-550/mt CFR, from $553-557/mt CFR last week, with the cargoes for August shipments. No deals have been reported, but some re-rolling companies may book shortly as they are currently in negotiations.
As for re-rollers, they are trying to keep offers for their materials stable, but are providing some discounts depending on the buyer and their sales situation. Turkey’s cold rolled coils (CRC) in the domestic market are mainly available at $700-720/mt ex-works, down $10/mt on the upper end over the past week. As regards exports, CRC offers are at $680-710/mt FOB depending on the supplier.
Hot dip galvanized material (HDG), 0.5 mm Z100, is on offer at $810-830/mt ex-works, again slightly down over the past week and some further discounts are considered possible. Z60-70 coated coil are at $770-780/mt ex-works, SteelOrbis has learned. The lowest pre-painted galvanized iron (PPGI) prices have been reported at $930-940/mt ex-works/FOB, while some suppliers are insisting on $950-970/mt FOB.
