Turkey-based coated and cold rolled coil (CRC) producers have entered the post-holiday period with rather slow business activity. Demand is said to be slow in the domestic market as buyers are taking their time to restock and also since the financial situation in the country is unstable. However, hot rolled coil (HRC) offers in the market have remained relatively unchanged in Turkey, and so re-rollers have provided only small discounts in the domestic market.
Currently, hot dip galvanized (HDG) domestic base offers are at $870-920/mt ex-works depending on the mill, versus $890-940/mt ex-works before the holiday. Domestic PPGI prices are now at $1,000-1,040/mt ex-works, down $10/mt over the past week. The official tinplate prices are at $1,050-1,080/mt ex-works, but there have been some sales at $1,035-1,050/mt ex-works, SteelOrbis has learned. “Demand is fairly slow and we are selling only minor volumes this week,” a re-roller said. The local CRC offers are mainly at $800-820/mt ex-works, down $20/mt on the upper end over the past two weeks. However, buyers assume $790/m ex-works level is also achievable.
In the export segment, however, although inquiries keep coming from many buyers, Turkish suppliers have had to provide discounts in order to compete. CRC export prices are now at $730-770/mt FOB, with some small sales closed to nearby countries, down from $820/mt FOB on average before the holiday. HDG export prices have dropped to $845-880/mt FOB, from $905/mt FOB on average before the holiday, SteelOrbis has learned.
