Hot rolled coil (HRC) prices in Turkey have been maintained at rather high levels, based on the previous deals in the domestic market, high prices in China and generally bullish sentiments. In the coated and cold rolled steel segment, however, prices have increased dramatically, though no significant surge in demand has been seen.
Turkey’s domestic HRC prices are now at $630-640/mt ex-works base for December deliveries, up by $10/mt on the lower end over the past week. Some higher offers are also being indicated for a longer lead time, but buyers are generally in wait-and-see mode. As regards exports, Turkish mills have raised HRC prices for December shipment by $10/mt over the past week to $600-610/mt FOB. Prices for ex-China Q195 grade HRC of 3 mm and higher are at $555-560/mt CFR Turkey, with no deals reported yet. Ex-Egypt HRC offers are at $620/mt CFR Turkey, while, according to sources, around 10,000 mt were sold last week at close to $610/mt CFR.
Domestic CRC prices in Turkey are now at $750/mt ex-works minimum, versus $725-740/mt ex-works earlier. However, levels at up to $800-810/mt ex-works are also voiced by some re-rollers, which, most probably, are not intending to spur CRC sales at the moment.
In the coated steel segment, local 0.5 mm Z100 material is being offered at $860-880/mt ex-works, while 0.5 mm Z60-70 HDG coils are offered at $840-880/mt ex-works. Previously, prices were around $30-40/mt lower. “There is no demand at such high prices yet. Some mills are saying they are almost done with this year’s sales, while others are only selling from stocks these days,” a trading source told SteelOrbis.
Turkey’s PPGI base prices are at $960-1,000/mt ex-works, the same as last week. However, some re-rollers are voicing Z70 PPGI offers for both domestic and export buyers at $1,050-1,060/mt ex-works/FOB.