Turkey’s HRC and CRC export offers soften further amid slack demand

Demand in Turkey's flat steel export markets has failed to show any improvement since the end of Ramadan, while China's aggressive export pricing policy is not helping the situation. After last week's price decreases observed in Turkey's hot rolled coil (HRC) and cold rolled coil (CRC) markets, further price cuts have been registered this week amid sluggish demand, with HRC and CRC prices decreasing by $10/mt and $10-15/mt respectively, both compared to last week. In the meantime, although coated flat steel exports from Turkey have remained at last week's levels so far, price cuts are also expected in these offers soon. In the meantime, discounts of $10-15/mt are already available in the market for coated steel products.
 
Currently, Turkey's HRC export offers are at $590-600/mt FOB, CRC offers are at $710-715/mt FOB, 0.5 mm HDG coil offers are at $810-820/mt ex-works, while export offers for pre-painted galvanized iron (PPGI) are standing at $920-940/mt ex-works.