Demand has remained low and prices have declined further over the past week in the Turkish coated steel market. After HRC prices plunged in China, Turkey-based re-rollers have been exerting pressure on suppliers. On the other hand, they themselves have become more open to negotiation and have been ready to provide discounts due to a certain amount of panic seen in the market.
"After the speculative rumors and price declines in China, everybody panicked. Buyers have exerted great pressure on prices and sellers have thought the best strategy is to sell as quickly as possible. Now they are offering for September, but prices are lower. Many defend the current strategy because they believe prices will decline further, but Chinese prices have started to increase again," a producer told SteelOrbis.
On the export side, the outlook is brighter. With the lastest price increase from ArcelorMittal, buyers in the EU are more interested in Turkish materials. "We have good demand from the export markets, but they also know we give discounts to our local buyers. That is why we have also had to give discounts to export destinations. But we think prices will increase again soon because demand is stable and low-priced Asian offers have started to fade away," another producer told SteelOrbis.
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Turkish domestic prices (ex-works) |
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Product |
Price ($/mt) |
2 Weeks change ($/mt) |
|
HDG 0.50 mm 100gr/m² |
1,440-1,490 |
-30/-10 |
|
HDG 1 mm 100gr/m² |
1,420-1,470 |
-30/0 |
|
HDG 2 mm 100gr/m² |
1,390-1,440 |
-30/0 |
|
PPGI RAL 9002 0.3 mm 100 gr/m² |
1.710-1,750 |
-20 |
|
PPGI RAL 9002 0.5 mm 100 gr/m² |
1,500-1,580 |
-20 |
|
PPGI RAL 9002 1 mm 100 gr/m² |
1,480-1,530 |
-20 |
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Turkish export quotations (FOB) |
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|
Product |
Price ($/mt) |
2 Weeks change ($/mt) |
|
HDG 0.50 mm 100gr/m² |
1,470-1,490 |
-20/-10 |
|
PPGI RAL 9002 0.5 mm 100 gr/m² |
1,540-1,580 |
-20 |