The situation in the flats market in Turkey remains out of control since pricing is still chaotic as there are many different reports in the market and buyers are really in a very different situation regarding purchases and overall market evaluations.
The local HRC price in Turkey seems to have settled at $1,150-1,160/mt ex-works base for June deliveries, while material for shorter lead times may be offered at $1,200/mt ex-works and above. In the export segment, no active offers are reported just now, but some evaluations are at $1,050-1,120/mt FOB depending on the supplier and shipment date.
Already bookings from alternative origins have started in the Turkish flats market. In particular, according to sources, a lot of HRC, CRC and CRFH have been booked starting from the end of last week. Some say that up to 150,000 mt in total have been booked and that HRC sales specifically have been closed at $940-960/mt CFR. Mainly the re-rolling companies were buying. “Prices are not under control as there is chaos everywhere - in orders, shipments, payments, and no one understands the real situation for potential availability,” a trader said. “China’s prices over here will certainly be higher and higher,” he added.
In the coated steel and CRC segments, prices have moved up significantly, although some re-rollers are giving unofficial indications, once again lacking clarity in their own situation regarding feedstock, shipments and orders. Current HDG prices are at $1,320-1,350/mt ex-works, up $135/mt over the past week. PPGI offers are at around $1,400-1,450/mt ex-works, up $110/mt. The pricing for CRC is rather unclear, but some offers are at $1,320-1,350/mt ex-works, up $155/mt over the past week.