Turkish coated steel prices still rise, but may stabilize temporarily

Tuesday, 27 April 2021 17:38:27 (GMT+3)   |   Istanbul
       

Demand has remained low in the local coated steel market in Turkey, but prices have continued to increase with support from strong export demand. However, some discounts are applicable for domestic buyers in the case of firm demand. Still, the levels of stocks in the market are low and suppliers’ offers are for August and September production. Accordingly, the size of discounts is limited to around $10-20/mt and those are workable mainly for September rolling. On the other hand, if hot rolled coil (HRC) prices continue to rise, it is certain that coated prices will follow.

"There is a great imbalance between local and export demand at the moment and we need to see higher local demand to minimize our risks. Most foreign buyers are not regular customers like local buyers. We have sold out our production almost until September and we can wait a bit for local demand instead of selling to an unknown buyer in this period," one producer told SteelOrbis.

The market is expected to remain silent in the coming days with the influence of recently announced lockdowns in Turkey and the ongoing Ramadan period. "We do not expect to see a great increase in demand because of the discounts but we consider it as an opportunity for buyers to replenish the low stocks in the market," another producer told SteelOrbis.

Turkish domestic prices (ex-works)

Product

Price ($/mt)

Weekly change ($/mt)

HDG 0.50 mm 100gr/m²

1,330-1,380

+30/0

HDG 1 mm 100gr/m²

1,280-1,300

0

HDG 2 mm 100gr/m²

1,230-1,270

0

PPGI RAL 9002 0.3 mm 100 gr/m²

1,600-1,620

+40

PPGI RAL 9002 0.5 mm 100 gr/m²

1,420-1,450

+20/+30

PPGI RAL 9002 1 mm 100 gr/m²

1,370-1,420

+20

Turkish export quotations (FOB)

Product

Price ($/mt)

Weekly change ($/mt)

HDG 0.50 mm 100gr/m²

1,330-1,350

+10

PPGI RAL 9002 0.5 mm 100 gr/m²

1,420-1,440

+20/+10


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