Flat steel re-rolling companies in Turkey have been trying to maintain their official offers for the local and exports buyers, considering the overall stable main market fundamentals in the feedstock and scrap segments. However, the limited domestic demand and the challenging situation regarding exports, especially to the EU, have been urging them to provide discounts of $15-20/mt to serious buyers. The products are mainly available for March shipments for exports and for March deliveries for the local market.
In the coated steel segment, local HDG 0.5 mm Z100 prices are at $750-760/mt ex-works in most cases, with $770-780/mt ex-works also being offered but with around a two percent discount. For exports, HDG of the same specification is on offer at $690-710/mt and up to $730/mt FOB, SteelOrbis has learned. However, the workable price levels are considered to be at much lower levels, as European buyers are hesitant due to CBAM-related issues. “Exports cannot be higher than $700/mt FOB. Some might offer at such levels but they cannot sell. The price should be at $660-680/mt FOB [in order to be workable],” a market player told SteelOrbis.
Local official PPGI prices are at $870-880/mt and up to $890/mt ex-works, but the workable price level is estimated at $850-860/mt ex-works. For exports, offers are at $840-850/mt FOB, but $820-840/mt FOB levels are considered more realistic for those eager to sell.
Turkey’s domestic CRC prices are at $650-670/mt ex-works, relatively stable in official offers, while the workable levels are considered to be at $645-660/mt ex-works maximum. Export offers are at $635-650/mt FOB, with the lower end being the workable level, re-rollers informed SteelOrbis. Import offers for CRFH from China are now at $540-545/mt CFR for end-of-March shipments depending on the volume of the order.
Domestic tinplate prices in Turkey have slid by $10-20/mt to $930-940/mt ex-works base, mainly due to limited demand. “Normally the suppliers should be finishing Q2 sales and planning sales for Q3, but they can’t sell March material today,” a source said. Moreover, some market sources have reported that one seller locally in Turkey is offering $900-915/mt ex-works for tin plate, most probably aiming to spur sales. Tinplate export offers from Turkey are evaluated at much lower levels, at around $750-800/mt FOB, sources report. The main reason is the aggressive price policy from China, which is quite active in the MENA and Mediterranean regions.
