Turkey-based flat steel re-rollers have been forced to take a step back in their prices over the past week, following a slump seen in the hot rolled coil (HRC) segment. Still, the price decrease for galvanized and cold rolled coils is considered a minor one and the offers are negotiable, buyers say.
HDG domestic prices in Turkey have decreased by $10-20/mt over the past week to $1,450-1,490/mt ex-works base, though some suppliers have chosen to leave their list prices stable for now. However, buyers report that most HDG sellers are ready to negotiate on the mentioned levels, being in some hurry to trade August-September volumes before flats prices drop further. “I think the lowest today is $1,440-1,445/mt ex-works, but God knows what will happen next,” a source told SteelOrbis.
In the CRC segment, local prices have decreased by $20/mt on the lower end to $1,450-1,490/mt ex-works, similar to the offers for HDG. Sources explain such a situation by the limited availability in the market, but generally still expect CRC prices to move down further and to settle with a healthier difference as compared to coated steel. In the import segment, an offer from South Korea has been reported at $1,450/mt CFR for CRC.