The Turkish flats markets started the current week with local integrated steel producer Erdemir's anticipated price increase for its June production.
Erdemir's base prices have been adjusted as follows:
Hot rolled product prices have increased from $720/mt to the following levels:
- 6222, 4222, 6223, 6412 and 6006 grades HR prices;
Isdemir delivery base price................. $760/mt,
Erdemir delivery base price................. $770/mt,
- other hot rolled product prices;
Isdemir delivery base price................. $740/mt,
Erdemir delivery base price................ $750/mt,
Cold rolled products:
CR annealed............................. from $800/mt to $850/mt,
CR full hard............................... from $780/mt to $830/mt,
Galvanized products:.................. from $820/mt to $870/mt,
Tin coil/sheet products:
Tin sheet................................. from $1,190/mt to $1,240/mt,
Tin coil.....................................from $1,150/mt to $1,200/mt,
Plate prices:............................... from $800/mt to $850/mt. (here and below excluding VAT)
Despite Erdemir's price increase announcement on Monday, in the local market prices have shown decreases in last two to three days as compared to early this week. On Wednesday, 2.5 mm HRS prices were at the level of $700-710/mt and 2 mm HRS prices were at $720/mt; however, as of Friday, 2.5 mm HRS prices have declined to $675/mt, with 2 mm HRS decreasing to $680-700/mt. Last week, 2 mm HRS prices were heard to be in the range of $720-750/mt.
Meanwhile, on the import side, Ilyich's export prices have continued to decrease. The reduction in Ilyich's HRC prices from $630/mt FOB to $610/mt FOB over the past week has speeded up the softening of the local Turkish market. Russian mill MMK, which had been in the market at the level of $755/mt CFR last month, has this week given HRC offers to Turkey for its June production at $750/mt CFR.
Erdemir collected bids for its export tender up to May 12, with traders' offers for HRC heard to be at the level of $680/mt FOB.