Due to low demand and uncertainties in the Turkish coated steel market, prices have seen a $10-50/mt downward correction since last week. Following this move, demand has started to improve and producers have continued to sell their materials for March and April production. Despite higher hot rolled coil prices in the country, Turkish coated steels were overpriced compared to HRC. In December, local prices in Turkey had increased by approximately $110/mt for HRC and by $120-140/mt for coated steel. The higher prices were not accepted by buyers. “We had difficulties in selling March and April production but now, after the price correction, we see demand again," a producer told SteelOrbis. Also, new price increases are expected in the market. "Due to higher scrap prices, we expect to see higher HRC levels in the Turkish steel market soon. Accordingly, our prices will increase. It is a matter of time. HRC prices will rise or we will sell most of April production, then coated steel prices will be higher," another producer told SteelOrbis.
In the export market, demand is still low because of lockdowns, mainly in the EU. Global buyers are waiting for a clearer outlook, but many believe demand will recover faster if there is some clarity.
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Turkish domestic prices (ex-works) |
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Product |
Price ($/mt) |
Weekly change ($/mt) |
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HDG 0.50 mm 100gr/m² |
1030-1070 |
-10/-30 |
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HDG 1 mm 100gr/m² |
970-1000 |
-30 |
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HDG 2 mm 100gr/m² |
940-980 |
-30 |
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PPGI RAL 9002 0.3 mm 100 gr/m² |
1230-1250 |
0/-50 |
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PPGI RAL 9002 0.5 mm 100 gr/m² |
1120-1150 |
+20/-50 |
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PPGI RAL 9002 1 mm 100 gr/m² |
1080-1100 |
0/-50 |
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Turkish export quotations (FOB) |
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Product |
Price ($/mt) |
Weekly change ($/mt) |
|
HDG 0.50 mm 100gr/m² |
1010-1050 |
-30/-10 |
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PPGI RAL 9002 0.5 mm 100 gr/m² |
1090-1130 |
-10/-20 |