Prices have declined by $10-20/mt in the past week in the Turkish coated steel market, but demand has remained at moderate levels. The price decrease in imported scrap prices has created negative sentiment in the market and buyers have exerted further pressure on prices. "With the decline in scrap prices, the expectations of lower coated steel prices have strengthened in the market and buyers have exerted more pressure on prices. As a result, prices have decreased during negotiations," a producer told SteelOrbis. Imported scrap prices have decreased by $4/mt in the past week. In addition, currency fluctuations continue to affect business. "We need more stable market conditions to protect our prices. Buyers want to pay lower prices because of the weaker Turkish lira rate against the US dollar. The decline in the scrap prices has only worsened the situation in the market," another producer said.
On the export side, demand is still moderate but foreign buyers have also been asking for discounts after prices declined in the local market market in Turkey. Due to slower local market conditions, export prices have also declined, falling by $20/mt in the past week.
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Turkish domestic prices (ex-works) |
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|
Product |
Price ($/mt) |
Weekly change ($/mt) |
|
HDG 0.50 mm 100gr/m² |
680-710 |
-/-15 |
|
HDG 1 mm 100gr/m² |
640-670 |
-20 |
|
HDG 2 mm 100gr/m² |
620-640 |
-20 |
|
PPGI RAL 9002 0.3 mm 100 gr/m² |
840-860 |
-20 |
|
PPGI RAL 9002 0.5 mm 100 gr/m² |
780-800 |
-10/-25 |
|
PPGI RAL 9002 1 mm 100 gr/m² |
750-770 |
-20 |
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Turkish export quotations (FOB) |
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|
Product |
Price ($/mt) |
Weekly change ($/mt) |
|
HDG 0.50 mm 100gr/m² |
670-690 |
-20 |
|
PPGI RAL 9002 0.5 mm 100 gr/m² |
770-790 |
-20 |