While market sentiment in the HRC segment in Turkey has been rather weak with further price drops to be possibly seen soon in local and export transactions, Turkish producers of coated and cold rolled steel are not in a rush to decrease their official prices.
One of the main reasons for this is that last week’s decision in the antidumping investigations against China and South Korea has spurred domestic market activity, especially for pre-painted but also for galvanized steel. And while re-rollers are still mainly offering for July deliveries, they prefer to keep their official indications stable while providing some discounts of two or three percent in negotiations.
Currently, local 0.5 mm Z100 HDG prices are at $810-830/mt ex-works officially, while the workable level is still evaluated as low as $790-800/mt ex-works. As for exports, most base material offers are at $740-750/mt FOB with minimum workable levels assessed at $720-730/mt FOB. Some suppliers, however, might agree to accept $710/mt FOB for a large tonnage.
In the PPGI market, the prices for commercial quality (Z60-70) material are at $880-890/mt and up to $900/mt ex-works, while for Z100 material prices are at $930-960/mt ex-works, but some suppliers, according to sources, may accept $910-950/mt ex-works. However, most re-rollers are reluctant to drop prices specifically for PPGI following relatively lively sales last week.
Turkey’s CRC prices have remained relatively stable over the past week, with domestic offers standing mainly at $700-720/mt ex-works, with the workable levels considered to be at $695-710/mt ex-works. CRC export offers have settled at $690-700/mt FOB for now. In the import segment, CRFH offers from China for August shipment have been reported at $585-590/mt CFR Turkey, while the latest deals have been closed to Egypt at $595/mt CFR.
