Turkish producers cut HRC and CRC export offers

Turkish mills have reduced their hot rolled coil (HRC) and cold rolled coil (CRC) export offers since last week, but demand or inquiry volumes have not shown any improvement. As local steel producers' in Turkish mills' export markets are striving so hard to satisfy actual demand in their domestic markets themselves, the Turkish mills' price cuts are only causing these local producers to give more substantial discounts, rather than increasing demand levels.
 
Currently, Turkey's HRC export offers are at $560-570/mt FOB and CRC offers are at $690-700/mt FOB, after respective decreases of $30/mt and $10-15/mt. In the meantime, 0.5 mm HDG coil offers are at $810-820/mt ex-works, while export offers for pre-painted galvanized iron (PPGI) are standing at $920-930/mt ex-works. However, although these prices have not shown any changes since last week, discounts of about $15-30/mt are available for large purchases.