Following a short-lived surge in sales, the situation in the Turkish coated and cold rolled steel markets has become rather weak again. Buyers prefer not to carry excessive stocks, following the gradual decline in the import hot rolled coil (HRC) segment and softening domestic feedstock offers. As a result, local coated and CRC suppliers have again started giving discounts for serious buyers, following the increase in official price levels attempted last week.
Hot dip galvanized prices are officially at $840-860/mt ex-works for 0.5 mm Z100 material for local buyers, down $20/mt over the past week. According to sources, there has been a 2 mm Z60 sale in the domestic market at $750/mt ex-works, which means around $830-840/mt ex-works for 0.5 mm Z100 coils.
Export indications for the same quality are $60-100/mt lower, due to low demand and tough competition. However, the largest discounts are available for large-volume orders. Some market players assess the realistic HDG export price levels at $760-790/mt FOB.
Currently, local Turkish CRC prices are at $750-780/mt ex-works, while earlier some re-rollers were aiming at $800-810/mt ex-works levels, which were not accepted by buyers.
Local and export pre-painted galvanized iron (PPGI) prices are at $980-1,010/mt ex-works/FOB, up slightly over the past week. "There is less PPGI availability compared to galvanized and so the price trend is different," a re-roller commented.
