Turkey’s HDG and CRC pricing weighed down by low demand, negative HRC mood

Thursday, 11 November 2021 17:07:51 (GMT+3)   |   Istanbul

Turkey’s coated steel and cold-rolled coils market has been witnessing a decline in the prices since the past week with low demand and the negative sentiment in the hot-rolled coil (HRC) segment being the key factors.

In the hot-dip galvanized (HDG) market, domestic base offers have moved down to $1,250-1,280/mt ex-works from $1,280-1,310/mt ex-works seen earlier. For exports, according to traders, ex-Turkey offers are at $1,240-1,250/mt FOB, taking into account the challenging trade to Europe amid the ongoing AD investigation. Moreover, some sources believe that for both the domestic and export markets the level of $1,230/mt ex-works/FOB may be attainable amid firm negotiation.

The domestic pre-painted galvanized iron (PPGI) offers have settled at around $1,330-1,350/mt ex-works, while earlier some of the mills were insisting on $1,360-1,370/mt ex-works levels.

In the meantime, business activity in the domestic tinplate market in Turkey has been better as mills are close to being sold out for February production. The latest base deal prices have been reported at $1,560-1,580/mt ex-works, up $20-30/mt compared to the previous levels.

In the CRC segment, according to sources, the market level is at $1,070-1,090/mt ex-works due to the decreased demand, while some official offers are up to $1,120/mt ex-works, depending on the supplier’s availability. Last week, CRC prices in Turkey were at $1,100-1,150/mt ex-works. In the import segment, ex-Ukraine offers are at up to $980/mt CFR, SteelOrbis has learned.

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