Turkish coated steel prices hit new record high

Tuesday, 18 May 2021 12:24:19 (GMT+3)   |   Istanbul
       

With the support of new increases in hot rolled coil prices (HRC) and strong export demand, Turkish coated steel prices have reached new record high levels over the past two weeks. Turkish HRC prices have increased by seven percent starting from early May, despite the end-of-Ramadan holiday. In addition, some re-rollers have filled their order books until the end of the August-September period. Export demand is still good and sellers are optimistic about market conditions in the coming period. They believe prices will increase further because of higher input costs and lively exports. However, local demand has failed to recover much and domestic buyers are very cautious due to the higher price levels and the unstable exchange rate.

"Turkish hot rolled coil prices have already hit $1,180/mt on average this week and many market participants believe they will soon reach $1,200/mt. Coated steel sellers are mostly optimistic, but buyers worry about the current price levels. Many believe current levels are very far from being affordable and a very healthy financial situation is needed to continue to trade in today’s market situation. Many traders only order in limited volumes and the spot market is likely to see a strong availability problem in the coming months," a producer told SteelOrbis.

Turkish domestic prices (ex-works)

Product

Price ($/mt)

2 Weeks change ($/mt)

HDG 0.50 mm 100gr/m²

1,470-1,500

+140/+120

HDG 1 mm 100gr/m²

1,450-1,470

+170

HDG 2 mm 100gr/m²

1,410-1,440

+180/+170

PPGI RAL 9002 0.3 mm 100 gr/m²

1.730-1,770

+130/+150

PPGI RAL 9002 0.5 mm 100 gr/m²

1,520-1,600

+100/+150

PPGI RAL 9002 1 mm 100 gr/m²

1,500-1,550

+130

Turkish export quotations (FOB)

Product

Price ($/mt)

2 Weeks change ($/mt)

HDG 0.50 mm 100gr/m²

1,490-1,500

+160/+150

PPGI RAL 9002 0.5 mm 100 gr/m²

1,560-1,600

+140/+160

 


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